Michael Panzner

Michael J. Panzner is a 30-year Wall Street veteran and the author of three books, including Financial Armageddon, which predicted the 2008 global financial crisis.

The Hedge Fund Smell Test

In “Hedge Fund Investing: The 4-Ps,” I discussed the notion of due diligence and how investors might go about selecting a hedge fund manager. In theory, the range of criteria that can be used to make such a assessment is unlimited, which means that it...

Hedge Fund Investing: The 4-Ps

There are various reasons why someone might want to invest in a hedge fund. The most obvious, of course, is performance, or more accurately, the prospect of acceptable future performance, however that is defined. There is no point in entrusting funds to a manager if...

Hedge Fund Investing: A Contrarian Dream

Many commentators have voiced opinions about what is wrong with hedge fund investing. In “The Misguided Focus on Hedge Fund Fees,” for example, I discussed widespread criticisms of the fees charged by managers. But complaints about performance have been just...

The Misguided Focus on Hedge Fund Fees

Few doubt that billionaire Warren Buffett is a smart man and a savvy investor. But he is also a hypocrite when it comes to the subject of hedge fund investing. At the Fortune-sponsored Most Powerful Women Summit in October, he criticized the hedge fund industry, most...