High Water Marks: The other hedge fund “lock-in”

Feb 8th, 2010 | Filed under: Academic Research, Investment Management Fees, Today's Post | By:
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high water mark 2The fable of The Wind and Sun tells the story of how the Wind and Sun argued over who was more powerful.  Seeing a passerby wearing a coat, the Wind blew as hard as he could to blow it off the man – to no avail.  The Sun, on the other hand, shone on the man, lifted his spirits (and his body temperature) – and basically cajoled him to remove his own coat. More…

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