AIMA fires back with statistical rebuttal of ‘The Hedge Fund Mirage’

Thu Aug 9, 2012

AIMA, the global hedge fund industry association, has published a detailed statistical rebuttal of 'The Hedge Fund Mirage’ – a book written by former JP Morgan man Simon Lack that has attracted widespread coverage on account of its highly critical assessment of the industry’s performance and which AIMA describes as "a polemic".

The paper, entitled "Methodological, mathematical and factual errors in 'The Hedge Fund Mirage’", was written in conjunction with AIMA’s Research Committee, which features leading academics and analysts.

"Many of us in the industry looked at the arguments in the book with initial interest, and then growing skepticism," said AIMA CEO Andrew Baker. "Many of the most sensational claims appeared not to be backed up by any figures. Where there were figures, the methodology was flawed. We noticed that no-one praising the book appeared to have actually checked the numbers behind it. We began to wonder if 'The...

ISSN: 2151-1845 / CDC10004H

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