Next Guy Who Talks S*** About Hedge Funds Gets A Hardcover Copy of ‘Atlas Shrugged’ To The Face

Cliff Asness is putting you all on notice.
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Courtesy of Cliff Asness, who may or may not be wearing a cape when he throws it at you.

Clifford Asness, AQR Capital Management’s chief investment officer, said “people are turning too negative.”

“They are yelling at them too much,” Asness told Bloomberg Television. “They will under-perform in a bull market like the one we have had for six or seven years.”

Asness: People Are Too Negative on Hedge Funds [Yahoo]
Investors Join Buffett Slamming Hedge Fees at Milken [Bloomberg]

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2010's Best Performing Hedge Fund Manager's Next Big Investment Idea Involves Becoming A Landlord

Don Browstein is a former philosophy professor, the founder of Structured Portfolio Management (named the best performing hedge fund in 2010, after returning 49.5 percent and 134.6 percent in 2009), a guy who supposedly once told a trader "The only way you can leave this firm is in a body bag" while brandishing a baseball bat, and the person tenants will have to answer to if next month's rent is one day late. Don Brownstein’s Structured Portfolio Management LLC plans to start a fund to buy and rent out homes. The firm, based in Stamford, Connecticut, may introduce the fund to investors within weeks, Brownstein said in a letter to clients dated June 12, a copy of which was obtained by Bloomberg News. He didn’t say how much capital has been raised or targeted. “There will be a significant transformation in the way in which single family homes are owned and occupied in the United States,” Brownstein said in the letter. The strategy is to acquire homes through distressed sales and rent them out profitably, perhaps to the former owner, then “sometime in the not distant future, sell the houses and reap a profit from a recovery in prices.” Brownstein Plans Funds To Buy, Rent Out Homes [Bloomberg Brief]