Kentucky Pension sues black box hedge funds-
Blackstone Group, KKR & Co./Prisma Capital Partners and Pacific Alternative Asset Management Co. for selling “custom-designed ‘black box’ funds of hedge funds promised good returns without much risk.
And in the end Kentucky Pension lost money-
Well, whenever someone sells you great returns without much risk- then be wary-
There is no free lunch-
I feel sorry for Kentucky and the Kentucky retirees. I hope that this lawsuit gets resolved well-
I pray for more wisdom for investors-
Again, never trust high yield low risk- One of them or both are likely to be false-