But when did they ever make sense?

WSJ: Funds of funds being pinched as investors realize they’ve been duped. “Funds of funds work well when the model is working”, says one genius. “Right now, the model is broken.” Heck, send me a fee of $10,000 and I’ll give you investment advice. I guarantee that you’ll earn a nice profit. Until you don’t.

2 Comments

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2 responses to “But when did they ever make sense?

  1. Inagua

    Of course they made sense, they were full time professionals who would do the due diligence for you, so you wouldn’t be suckered in a Ponzi scheme.

  2. christopherfountain

    Oh! Right – I forgot.