The Lies Of Private Equity

While embarking on scenic tours can make life both interesting and exciting, they’re best avoided when it comes to the world of investing.

The reason is that most “interesting” investments fail to deliver on their promise of returns sufficient to compensate for their incremental risks. This has been especially true of hedge funds. And it has also been true of the particular type of hedge fund that was made popular by Kohlberg Kravis Roberts & Co. (KKR): the leveraged buyout fund (LBO).

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