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MIELLE: After 2008? RITHOLTZ: 2008, ’09. RITHOLTZ: It’s mutualfunds. It’s hedge funds. MIELLE: And then the biggest luck of it all, is I joined Canyon in the ‘90s and there was a tsunami that literally lifted all waves of hedge funds from ‘90 to 2008 and even beyond. MIELLE: Correct.
For example, more sophisticated hedge funds typically charge a flat management fee of 2%, coupled with a performancefee that takes 20% of annual profits. It's not difficult to realize that over time, a large chunk of client capital in these funds gets eaten up by fees.
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