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12#
发表于 2011-7-13 14:20
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maratikus Wrote:
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> you don't have to agree with me on the risk
> premium perspective but that's just general
> finance stuff.
Oh, I get the concept of a risk premium. And after further thinking, I believe that and older fund, with a history of outperformance will command higher fees, so, on a net-of-fees basis (and that's the one that matters) I suppose older funds do pay less of a risk premium.
Still, there's no denying that if 10 hedge funds start up, only one of them exists 18 months later. |
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