Hedge Fund Return Doesn’t Equal the Risk
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“Investors Are Flocking to Hedge Funds” [June 24] neglected to state that the same trading theory and pattern that brought down Long-Term Capital Management in 1998 also caused the bankruptcy of Orange County.
Now is this kind of risk worth the meager 7.6% return for 2000 of the average hedge fund?
I am better off owning municipal bonds yielding 5%, tax free, and being able to sleep at night.
Tim Jordanides
Huntington Beach
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