And neither do I. Here's Josh's rant - in his classic style he doesn't hold back.
But I fully agree with him, and I even spent time this summer trying to prevent the State of NC from increasing its allocation to Hedge Funds in the State Pension Fund. I testified in front of the House Finance Committee and also met with the Democractic Caucus and Phil Berger (the Senate Leader), but alas to no avail. Ultimately the bill was signed in to law by Governor McCrory. Wall Street Investment managers will be $200 Million per YEAR better off from this bill.
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