Naked Capitalism and the Financial Times: Hedge Funds Doomed by Design

I stumbled upon this post at Naked Capitalism from March.  It was referenced in wikipedia’s Taleb Distribution page.

I probably read it when it was originally posted but I still felt impressed reading it again a few minutes ago.  And the lesson that it provides is as relevant as it was at the start of the year.

I won’t go into much detail about its contents, as I do think recommend others read it in its entirety if they have 3-4 minutes to spare and are interested in how hedge funds work or how their business models may operate.  Or how many forms of investing work in general (hence the Taleb Distribution relationship).

Enjoy!

… and the cow goes moo