BOSTON: Many are confronting addictions they see as unhealthy, antisocial and costly, such as smoking, drinking…and hedge fund investing.
Kicking the hedge fund habit is particularly difficult. The wealth managers and investment consultants who peddle the stuff are plausible and persuasive. The hedgies themselves are brainy and energetic. And, after all, everyone these days is a user, right?
But it happens occasionally. Today, PFZW, the second-biggest public pension fund in Europe, went cold turkey. The €156 billion fund, which looks after the retirement savings of two million Dutch healthcare workers, said that it had pulled €4 billion…