Saturday, January 21, 2012

The financial industry and value destruction

In this book, Simon Lack exposes what many in the industry has known all along, but preferred never to let out. The financial industry creates value for the manager of the financial industry, but destroys value for  investors. That is, 84% of all profits of the hedge fund industry, as a whole, went to the pockets of a few hundred hedge fund managers. They were not the investors.

This is a must book for anyone who wants to understand how distorted a system have we created. It is also a must for any politician who wants to make things better, and not only for themselves. But do such people exist?

No comments: