Berkshire Hathaway Inc (BRK.B)

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Buffett was correct: "Hedge Funds 2/20 formula Dead"

"Milken Conference speaker says hedge fund fees are not best return on capital"

"The agitation against hedge funds’ 2 and 20 formula seems to have gained traction among clients. The chief investment officer for the second largest pension fund in the U.S. said on Monday that hedge funds are charging exorbitant fees. Chris Ailman of CalSTRS said they were working on improving their return by moving to options in which they can pay less in fees. Ailman said that a “lower fee is the best return on capital.” The California State Teachers’ Retirement System oversees $187 billion in assets.

This has been one of the worst years for the hedge fund industry as it started with a record amount of redemptions requested from hedge funds. Billionaire investors like Paul Tudor Jones and Alan Howard are seeing billions in redemptions after weak performances last year."

http://valuewalkposts.tumblr.com/post/143804858015/milken-conference