U.S. Colleges Continue to Get Ripped Off by Hedge Funds
This post covers a theme I’ve discussed on many occasions over the past several years, namely how “alternative asset managers” are making enormous sums of money by ripping off public pensions as well as college endowments. Send this to anyone who naively tells you we live in a meritocracy. The sad truth of the matter, is we operate within an economy which incentivizes all of the worst types of behavior, where people can earn millions of dollars a year while failing.
