Why is anyone still paying 2&20?

<p>A twitter user <a href="https://twitter.com/sadvalueinvestr/status/1744813824656511401" target="_blank" rel="nofollow">posted </a>returns for some big hedge funds in 2023 and once again only about 20% of them outperformed the 24% gain in the S&amp;P 500 (congrats to Light Street and Whale Rock, whoever you are).</p><p>However 100% of them charged huge fees for either having or not having Magnificent Seven stocks last year.</p><p>The lesson here is that passive is king, especially at a time when you can get real returns in fixed income or prefs…. yet here we all are.</p>

This article was written by Adam Button at www.forexlive.com.