Chelsea Clinton’s Husband to Close His Hedge Fund After Losing 90% of Value

Chelsea Clinton’s husband, Marc Mezvinsky, learned a hard lesson about active investing after failing to perform in his hedge fund. After losing 90% of its value, Chelsea Clinton’s husband is reportedly closing his Greek hedge fund. As reported on New York Times, “it was a hedge fund portfolio pitched by Hillary Clinton’s son-in-law, Marc Mezvinsky, as an opportunity to bet on a Greek economic revival. Now, two years later, the Greece-focused fund is shutting down, after losing nearly 90 percent of its value, according to two investors with direct knowledge of the matter who spoke on the condition of anonymity. Investors were told last month that the fund would close.” After all, Chelsea’s husband learned the mistake mostly from the investors’ money. Common investors should stick with index funds. A low-cost indexing strategy beats active management over the long run. (nytimes.com)