Successful Hedge Fund Manager Bids Adieu, Insults and All
In a somewhat scathing goodbye letter to his investors, hedge fund manager Andrew Lahde lambastes his investors. Calling them "low hanging fruit" and worse, click here to read for yourself.
My rationale for posting the letter is not to sensationalize but rather point out that people seem to be getting more vocal about the economic and political state of affairs. I think this angst is going to have a dramatic impact on the legislative landscape. Recently asked whether I think more regulation is on its way, I answered "without doubt."
Plan sponsors are likely to see a lot more politicians passing the retirement benefit plan "hot potato. The calculus is simple.
- More pension plan woes + Social Security gaps (or international equivalents)
- Blame game begins
- Hold plan sponsors responsible for helping retirees make up for losses.
In response, plan sponsors that take pension governance seriously (and are demonstrated fiduciary leaders) are likely to have more influence on the outcome.
