Hedge funds are rightly under a great deal of public pressure for their high fees and poor performance. (See this recent post from Barry Ritholtz at Bloomberg.) That being said I wouldn’t want to restrict the ability for hedge fund managers to take a shot at success. This idea is encapsulated in the tweet below from Paul Kedrosky.
I disapprove of your loony investment idea, but I will defend your right to lose prodigious money doing it.
— Paul Kedrosky (@pkedrosky) November 3, 2015
So for everyone out there taking shots at hedge funds hold your fire. One day you might want to get your “loony investment idea” funded…