How hot do you want your sauce today?
This is what hedge funds looked like in 1995…
Those same hedge funds today….
So as not to offend. Hedge funds in 1995….
Same hedge funds today…
Exhibit A...B...and C.
Why? When you throw a 2 and 20 management fee structure on something, it’s going to attract a lot of people who want to participate, even if they aren’t skilled enough to pull it off.
Another tough year, when it shouldn’t have been…
That leads to this…
The crowded trades….
All this being said, there is still a lot of money to be made.
But in Los Angeles…
Who are these guys?
What about performance?
Hut, hut, hike!
“You got to know when to hold em’ know when to fold em’”
Green Brick Partners
From $8,000,000,000 to $1,500,000,000
Too many drawdowns
Who is this math wiz?
All math, no emotion….
The Izzard of Awes…
Parabolic asset growth…
What a Melvin…
No coming back…
Sorry to see you go…
Who are these guy?
If you only had one book to read, this would be it…
In July of 2021 Stan said in the WSJ that the Fed was behind the curve. He was right.
Who’s the baby now?
Buffett won the bet!
The Herbalife Fight
He should have stuck with it…
Ackman’s Top Holdings
The art of the short sell from Lee Mikles the Master.
The other Master I learned the business from, Mark Strome.
And here is another Master, with a side gig.
My NELAX legacy.
What a yutz!
Lesson learned, always have a side gig.
Where did this leave me?