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”


Background: Terry Smith, Warren Buffett and Hedge Fund Fees

Terry Smith

Terry Smith, CEO of Tullett Prebon has a blog of his own, probably preparatory to his starting his new fund management shop Fundsmith.  He talks about straight talking in his aptly named blog.  If one of his first blogs is anything to go by, it should be interesting reading.  In this, he talks about fund management fees versus investing in Berkshire Hathaway, Warren Buffett‘s investment vehicle.  To wit, Continue reading “Background: Terry Smith, Warren Buffett and Hedge Fund Fees”