The Value of “Top Talent”

By James Kwak

From a Wall Street Journal article about The Children’s Investment Fund:

“[The fund] lost 43% in 2008, among the worst losses by a hedge-fund that year.”

“Both investors and employees defected during the crisis, with top talent leaving to start hedge funds of their own.”

“But with a 30% return in 2012 and a 14% gain this year, TCI has crossed its high-water mark.”

Makes you think.