Archive for June 2009
“They are the cancer of the institutional investment world.” – David Swensen
Would you consider forming a partnership with someone you don’t know, in which you would contribute the money and that someone would conduct a business that you don’t understand, and do the accounting as well?
Most business owners would respond with a resounding “No!” The reason is obvious: such an arrangement is the surest way to lose money.
The Investment Scientist 