It’s Probably Too Late: Hedge Fund Performance “Improves,” But Market’s Patience Is Gone

As we and plenty of others have documented extensively, the allure of "rockstar," coke-sniffing, Hamptons-dwelling, hedge fund managers is disappearing rapidly in a world where trying to beat benchmarks means trying to figure out how to outperform a broad market that's backed by $400 billion in quarterly central bank liquidity flow. Simply put: the "2 and 20" model is on life support as fund managers try to adjust fee structures in order to ensure the survival of the industry. "Hedge funds have