The Forbes list of billionaires is out for 2015 and Michelle Celarier @mcelarier tweeted that there were 38 hedge fund managers on the list, led by Ray Dalio at $15.2 million.
I posed a question to Michelle, “Where are the Customers on the list?” and she responded that, indeed they were on there, as many billionaires would be clients of the hedge funds.
And I suppose that’s true.
But, the hedge fund managers had achieved the list because they ran hedge funds. The customers made it because they earned or inherited the money from other endeavors, not because they invested their money in hedge funds.
I just wonder how many customers made the list in spite of investing with the hedgies rather than because of them.