Citing two RIABiz recent articles, a longtime reader tells us why our hedge fund coverage is skewed
There's a place for alternatives in the post-crash era, our correspondent writes, especially when 60/40 portfolios are not a universal panacea
Related Moves
Fidelity will hire 4,000 staff in first half -- a staggering number but a tapering off from 'unprecedented' rate in 2021-2022 that catapulted it to 68,000 employees
The $10.3 trillion giant explains its hiring -- in a layoff environment -- as an RIA-like goal, namely having the human bandwidth to develop 'lifetime' relationships with its 40 million investors
February 17, 2023 at 2:49 AM
Fidelity Investments loses Kathleen Murphy who largely caught up Fido to Schwab (near $4T) on the retail side by reversing net promoter scores
The 'no whining allowed' leader of the Boston giant's retail business, who oversaw $2 trillion in net new assets, was ready to exit but hung in through a year dominated by COVID-19 challenges
January 23, 2021 at 2:02 AM
Fidelity Institutional looks like a big TAMP after Mike Durbin removes last internal walls between products and advisors after 'meteoric' 2019 leap; two Fido RIA sales legends depart amid the shift
Rich Policastro and Tom Valverde are out after Fidelity Custody & Clearing assets leap to $2.6 trillion AUA, restructuring gets the credit -- and so restructuring gets extended.
March 13, 2020 at 10:36 PM
TD Ameritrade's board suddenly pushes out Tim Hockey after his big misread of RIAs; Tom Bradley name-dropped as successor
The CEO broke the TD promise never to compete with RIAs, took it back and got sent packing
July 23, 2019 at 4:30 AM
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Pershing Advisor Solutions
Asset Custodian
Top Executive: Mark Tibergien
RIABiz.com
RIA Publication, Blog/Social Networking Tool
Top Executive: Brooke Southall
John Cassiter
1 point to make which is that this idea that 'performance since inception’ is of major importance is a joke.
performance since inception is manipulated. if performance is not good since inception, you fold the fund.
performance since inception is not necessarily a long-term figure. 5 or 10 years is a useful time-period —- but its not its been good for 5 years, 10 years, 20 years.
if performance was really good in early years, then fails — it might still look good from inception and you underperform awfully but the fund suporters still say 'but since inception’.
What is my point? That 'peformance since inception’ is garbage. Look at performance over many different periods and then make an overall weighted conclusion.
Big Bopper
This is good marketing for the author… bet some hedge funds call him for some spin help now.
