Hedge Funds
Everyone outside the hedge fund industry likes to take potshots at hedge funds because: 

1)       They are not required to register any of their investment activity with the SEC, making them completely unregulated,

2)       Their fees are egregiously ridiculous (typical fee on +10% return = 4% of assets), and

3)       They offer virtually no transparency into what they own, even to their investors. 

While these are true, we would add that hedge funds are also essentially mutual funds at heart, meaning that:

1)       They don’t care about you, because they have never met you,

2)       They don’t know your objectives, and

3)       They couldn’t care less about your tax consequences.
 

Just thought you’d like to know how we feel about hedge funds.