Cliff Asness Not Happy With FT Piece On Hedge Funds

Miles Johnson of the FT takes strong issue with an article I didn’t write but, rather, one he thinks someone like me would write (I’m sorry if that’s hard to follow but it’s Miles’s fault).

I wrote a fairly narrow piece pointing out that articles marveling at the 2015 compensation of the top 25 hedge fund managers (e.g., here or here) are about wealth when they purport to be about income. That’s basically it.  Not a statement that wealth wasn’t important.  Not a defense of this wealth.  Ayn Rand didn’t leave the building as she never entered it.  I mentioned that this “mistake” likely occurs...