Hedge Funds lose money for everyone, not just the rich

When Douglas Kobak was an adviser at a large brokerage firm, he suggested his wealthiest clients buy a hedge fund promising to be “a very conservative alternative to bonds.” Then the credit crisis hit in 2008, the fund imploded and investors got 45 cents on the dollar — as long as they promised not to sue.

Old Mutual's CEO Jim Sutcliffe hunted Skandia for years. Overpaying for the purchase would eventually cost him his job.

History suggests Old Mutual overpaid for Sweden’s Skandia

Old Mutual's CEO Jim Sutcliffe hunted Skandia for years. Overpaying for the purchase would eventually cost him his job.

December 19, 2005

Old Mutual’s dogged pursuit of Sweden’s Skandia has ended almost a year after talks started last December. The 800 000 South Africans who own Old Mutual shares will be hoping it’s worth the R850m in advisory fees being paid to London-based lawyers, bankers and financiers.

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