I’m not sure how the topic surfaced, as we six trekkers sat with our guide on rickety aluminum camp stools and enjoyed a candle-lit dinner inside a heavy canvas tent. Somehow, Dave – the 71-year-old guy from Britain – got to talking about cars. We quickly learned that he owned several sports cars and that […]
In his recent Insight column for the Financial Times, Dan McCrum described gold as “the perfect medium for pseudo-analysis”, and argued that the price of gold can never be more than fashion. Click here to read his thought-provoking piece from October 12, 2016.
One of the more interesting aspects of our practice at Springwater is that we occasionally find our “investment mood” at odds with that of our prospective clients. So it is context of managing (prospective) client expectations that we share with you below the contents of an email we sent to our clients in May 2007, […]
Last week, California Public Employees’ Retirement System (CalPERS), the largest pension fund in the US, announced that it would pull all $4 billion from its hedge fund investment program of 24 hedge funds and six hedge “fund-of-funds”. CalPERS was one of the first pension funds to invest in hedge funds in 2002. Hedge funds – […]
According to Bloomberg News, hedge funds returned an average of 7.4% in 2013, marking the fifth straight year of under-performance versus the broad stock market. You can read the entire January 7, 2014 Bloomberg article here.