“The firm’s biggest fund, Spectrum, has earned an annual average return of 9.4% net of fees since 2004.”
The S&P 500 has averaged 9% for 80 years. Joe Blow can buy index fund and do just as well as the quant clients. Sure, these guys are averaging 14% before fees, and it’s a great way to get rich. But after fees the client might as well just passively invest.
“The firm’s biggest fund, Spectrum, has earned an annual average return of 9.4% net of fees since 2004.”
The S&P 500 has averaged 9% for 80 years. Joe Blow can buy index fund and do just as well as the quant clients. Sure, these guys are averaging 14% before fees, and it’s a great way to get rich. But after fees the client might as well just passively invest.