| ▲ | epolanski 2 days ago | |
Buyouts. For VC we know there is an edge, but that edge belongs predominantly to the top 4. I'm concluding that investors thinking that giving their money to a PE fund hoping to have anywhere near the diversification and returns of a simple global market ETF are in for a rude awakening. Of course you profited nicely, it's who puts the money in the private fund that won't have any chance of beating a very simple global ETF buying your businesses. And gains in those highly unregulated and illiquid markets (that have insane fees) are what they are: virtual. In any case I ain't reading a 68 page report, and have no patience for yet another pointless pitch about PE, everything there was to say about PE can be found in this very simple summary by Ben Felix: | ||