The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Ellis: The 2-and-20 model is no longer the modal hedge fund fee
“We talk about two and 20, but two and 20 is not the average fee in the industry by a long way, and it's certainly not the modal fee either. Two and 20 is now the unusual.”
Ellis: Asset management operates at roughly 30% profit margins
“And the incredible thing is asset management as an industry is way nearer the social media end than it is the outsourcing end. It's a sort of 30% margin industry and some parts are significantly better than that.”
Ellis: The End of Current Macro Regime Will Be Extremely Messy
“And personally, I think when it ends, it will be extremely messy. It's got to happen one day because you can't just keep increasing government debt and all other debt and Having no return on capital and have asset prices go up every day.”
Ellis: Trend Following Will Profit in a Downturn, but Clients Will Lose Net
“And even if I think the best thing to somewhere between hope and expect to make money out of that change when it happens is trend following. We have a bunch of products, which I think will make our clients a whole load of money in that environment, but it's no…”