An ill-advised, persistent and costly error among institutional investors and their consultants is their reliance on large brand name money management firms to look after their assets. We had the privilege of attending and speaking at the recent Emerging Manager 2009 conference, from where we return with some very persuasive statistics that show the outperformance of small money managers over the large mainstream firms. Read the rest of this entry »
Welcome, AQR. Seriously.
Welcome to the most exciting and important marketplace since the hedge fund revolution began with Alfred Winslow Jones 50years ago.
And congratulations on your first mutual fund.
Putting real investment power in the hands of the individual is already improving the way people invest, think, build portfolios, and will spend their retirement years.
Financial literacy is fast becoming as fundamental a skill as reading and writing.
When we launched the first event-driven mutual fund, we estimated that millions of investors worldwide could justify the investment in alternative strategies, if only they understood the benefits.
Next year alone, we project that many more will come to that understanding. Over the next decade, the growth of alternative strategies mutual funds will continue in logarithmic leaps.
We look forward to responsible competition in the massive effort to distribute these strategies to the investment world.
And we appreciate the magnitude of your commitment. Because what we are doing is increasing financial capital by reducing portfolio volatility.
Welcome to the task.