10:01 AM Pension funds might consider going back to the old days of holding 60% of assets in equities and 40% in bonds as the classic strategy has whipped hedge fund performance for the last 5 years. Nevertheless, Citi sees institutional investors continuing to pour money into hedge funds. It's tough for a Vanguard brochure to compete with fancy dinners and a round at Shinnecock.
If only Malkiel's advice was more glamorous...
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