Investment Strategy: How to Make Money in Bill Gross’ “New Normal”

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I re-read a copy of Bill Gross‘s April 2009 Investment Outlook and some things — besides his very consistent world-view and investment philosophy — were refreshed again, especially his parting words: Continue reading “Investment Strategy: How to Make Money in Bill Gross’ “New Normal””

Background: Hedge Fund Fees, Terry Smith and Warren Buffett

Terry Smith has written again about the kerfuffle he’s raised about his last entry on the Hedge Fund 2 & 20 deal.  He says that commentary on his calculation has centered either against the calculation methodology or basically said “so what?”  I don’t question his methodology, nor do I think it doesn’t rate some soul-searching.  However, there are a couple of other things that I really have an issues with: Continue reading “Background: Hedge Fund Fees, Terry Smith and Warren Buffett”