Clearly, they need more tax cuts. But think of all the value they add to the economy! I can lose 1% of your investment for half of that in fees. That’s a 50% savings! Um, most retirement funds aren’t allowed to invest in Hedge funds. Too much risk & too illiquid. Ironically 1 of the exceptions is that many state government pension plans (such as CALPERS) can & do, because if they lose money then the taxpayers are on the hook. Hedge funds hot hands Manager Firm Income 1. Ken Griffin Citadel $1.7 billion 1. James Simons Renaissance $1.7 billion 3. Ray Dalio Bridgewater $1.4 billion 3. David Tepper Appaloosa $1.4 billion 5. Israel Englander Millennium Mgmt $1.15 billion 6. David Shaw D.E. Shaw $750 million 7. John Overdeck Two Sigma $500 million 7. David Siegel Two Sigma $500 million 9. O. Andreas Halvorsen Viking Global $370 million 10. Joseph Edelman Perceptive Advisors $300 million Source: Institutional Investor’s Alpha