Will A Handwritten Note From Warren Buffett Cause A Hedge Fund Exodus?

Did eleven words in a handwritten note from Warren Buffett spark a new trend for pension funds to reduce their hedge fund exposure? Blown up hedge funds seeking advice from Warren Buffett When the San Francisco Employees Retirement System was considering allocating 15 percent of its assets towards hedge funds, a robust debate emerged. Board member Herb Meiberger, who argued hedge funds had blown up in the past and were not appropriate for government employee retirement funds, sought the advice of Warren Buffett, according to a report in the Wall Street Journal. “I would not go with hedge funds –…