Calpers May Be Doing Wrong Thing at Wrong Time: Gabelli

The transcript discusses CalPERS' decision to exit hedge funds, evaluating the performance and fees associated with hedge funds compared to traditional investments. It questions the effectiveness of hedge funds in institutional portfolios and explores the impact of market conditions on hedge fund performance. The discussion also touches on the diversification value of hedge funds and insights from industry experts like Matthew Levine and Michael Steinhardt.

Why did CalPERS decide to move away from hedge funds?

• To increase liquidity

• Due to high fees and underperformance

• Because of regulatory changes

• To focus on real estate investments

What was the growth of hedge funds from $100 billion to?

• $2.4 trillion

• $1 trillion

• $500 billion

• $3 trillion

What is a key factor in determining hedge fund performance?

• The number of investors

• The age of the fund

• The net exposure of the fund

• The location of the fund

What does Matthew Levine suggest about hedge funds?

• They may not provide the expected diversification

• They are immune to market fluctuations

• They should only invest in technology stocks

• They are the best investment option

Who is mentioned as having a successful hedge fund?

• Michael Steinhardt

• Warren Buffett

• George Soros

• Ray Dalio