Leverage of 130/30 funds can burn

Christopher Holt, who used to work in the hedge fund industry, takes a stab at critiquing the critique of 130/30 mutual funds on his blog today. I’m deeply saddened he left my criticism from two weeks ago off his list. He’s citing Chuck Jaffe’s piece from April 20, which also ran in some newspapers over the past few days. If anything, Chuck’s a little too easy on 130/30 funds.

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