Fund of Hedge Funds Manager Says Don't Invest in Hedge Funds
James Altucher is a Financial Times columnist and president of Stockpickr LLC. He also is a managing partner of Formula Capital, a manager of a fund of hedge funds. Here's something you might not want to hear from the person responsible for investing your money in hedge funds:
A friend of mine asked me a few months ago what fund of hedge funds he should put his money into. I told him he might as well flush it down the toilet. He laughed because he knows I run a fund of funds, but I wasn't kidding.I wonder how Altucher's fund is doing?
actually, its doing fine, thanks. The article is really intended more for indivual investors. I have just institutional investors.
I'm glad your fund is doing well, but think your criticism of hedge funds is too generalized. I mean, there are some funds people should invest in . . . if they could.