Always Nice To See

WSJ reports that a number of top mutual fund managers did very well for themselves in 2008 even as those who invested with them lost their shirts. Some CEOs and chief investment officers pulled down $4 to 5 million while their funds were off 16% and 38%. Always nice to see merit rewarded in the free market....


Blogger LAToxDoc said...

Yes, curiouser and curiouser.

This post reminds me of a chapter in Mlodinow's recent and very lively book, The Drunkard's Walk. Apparently, there is quite a bit of statistical evidence that the performance of mutual fund managers is indistinguishable from random noise. So, what do these managers do exactly to "earn" their bonuses?

. . . other than look distinguished, so as to lure in investors?

What a nutso system our financial "markets" have set up. Go figure. / Paul Papanek, Los Angeles

February 19, 2009 at 10:07 PM  

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