‘Being a Hedge-Fund Manager Is Like Being an Actor’

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And by “actor,” we mean someone whose job it is to tell lies: “‘Sometimes being a hedge fund manager is like being an actor. Here in Southern California, you may talk to a waiter who will insist that he is really an actor. But he is really a waiter who moonlights as an actor. A lot of hedge fund managers are really charlatans moonlighting as money managers,’ said Jane Buchan, chief executive officer of Pacific Alternative Asset Management Co., Irvine, Calif. PAAMCO manages $19 billion in hedge funds.” [Pensions & Investments]

‘Being a Hedge-Fund Manager Is Like Being an Actor’