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Overview of a new entry: the Hedge Fund Billionaire (Caracteristics of HFM…
Overview of a new entry: the Hedge Fund Billionaire
Caracteristics of HFM
appeared about a decade ago
represent 8% of US' wealthiest people
billionaires/super rich people
can be found mostly in US or also in London
only men
have one of the better get-rich-quick schemes
Difference between HFM and other rich people
Other rich people
or company shares
such as real estate
holdings often locked up in assets
Hedge Fund Managers
extremely liquid wealth
essentially in a cash business
Significant statistics
First three quarters of 2016
liquidation of 782 hedge funds (highest number since 2008 financial crisis)
2016
28 billionaires
$162,5 billion in wealth
2015
32 billionaires
$169 billion in wealth
2006
13 billionaires
$34,2 billion in wealth
Criticism
excessive secrecy
illiquidity in the arrangements
exorbitant management fees