Barry Ritholtz, Columnist

10 Questions for a Pension-Fund Manager

The unjustified appeal of hedge funds hasn't gone away.

September 14, 2015 at 12:57 PM UTC

Barry Ritholtz is a former Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”

Answers please.
Photographer: Patrick T. Fallon/Bloomberg

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From the “Here We Go Again” files:

Yet another big pension fund has decided, despite the overwhelming evidence to the contrary, to engage in higher-risk, higher-cost investing. One day, this might end well, but history is replete with an almost-unbroken string of examples where it hasn't.