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-