i'm not quite sure what you're upset about
Reader comment on: The Many Myths of Warren Buffett
Submitted by Ralph Segall (United States), Feb 25, 2010 17:57
as a hedge fund operator, buffett's fee schedule was more attractive to his investors than the current 2/20 structure that exists today. it breaks in his favor only over a 62% gross return, but that doesn't happen ( even for buffett) very frequently.
that point notwithstanding, what is objectionable about his offer? that outsized returns might be earned? no one knew that at the time. that only certain kinds of investors should be allowed to earn them? might be slightly hypocritical, i'd concede, but it does demonstrate a good sense of political sensitivity. providing liquidity at a crucial moment is what good investors should try to do. it doesn't seem especially admirable or disgusting to me that he was doing what he has always done.
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