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Originally Posted by philcski
This guy didn't work at hedge funds, he worked at crooked boiler room brokerages who were rampant in the 80's and 90's. Brokers make money on the execution of transactions and hold no risk- completely different from hedge funds.
By the way, I'll excuse your ignorance on the topic, but hedge fund employees only get paid when they show positive performance. It isn't in their best interest to rip off the client.
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That is correct. Most hedge funds get 20% of the profits and charge a 1% management fee. The hedge fund operators aren't going to make any money if the investors aren't making money.