Truth on the Market
Yep, I said so three years ago!
In my current (larger) dataset, of 61 funds, 18 have carry of 25%; 7 had a carry of 30%; a few have preferred return (carry changes with performance). I wish I could post a histogram in blog comments. Bigger funds have a higher carry; carry does not predict performance; and there is no strong time trend. You read it here first.
(I didn’t just happen to remember this… I am trying to finish the damn paper as we speak).
Enter your email address:
Join 1,151 other subscribers
Sign me up!
RSS - Posts
RSS - Comments