The tyranny of the benchmark

So, you've made some returns on your investment, but compared to what? Thus runs the standard question of the long-only wealth manager.

The tyranny of the benchmark rears its ugly head, as all investors flee to the FTSE, MSCI, CAC and DAX indices, and investable products based off them, to ensure they have some exposure to the hot manager, and do not miss out on the luke-warm manager when they turn hot again.

But what about hedge fund managers? Many have joined hedge funds just to escape the worl

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