Odey Asset Management, a London hedge fund which was seeded by George Soros in 1991, is having a rough year.
The fund has lost nearly half its value, because “Passive investing has taken money which typically would have been in the bond market and deposited it in the equity market.” I cannot imagine how an investor feels after reading this.
This is on the same are you f*king kidding me level as when Bernstein claimed indexes were worse for society than Marxism. Blaming your performance on indexing is like (lousy analogy coming) Zack Snyder, director of Batman Vs Superman, blaming the flop on the fact that all the money is going into television. Come on, man.