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Andrew Boysen
Worked at Oracle Corporation
Attends Wharton School of the University of Pennsylvania
Lives in Philadelphia, PA
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Andrew Boysen

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Tim O'Reilly originally shared:
 
Truly eye-opening: According to a recent book, The Hedge Fund Mirage (http://www.wiley.com/WileyCDA/WileyTitle/productCd-1118164318.html), by Simon Lack, from 1998 to 2010, 84% of the investment gains of the entire hedge fund industry went to the managers, and only 16% to the investors. The thievery of our "financial industry" beggars the mind. Never mind the 1%! This is a tiny fraction of the 1% fleecing the rest of the 1%.

According to The Financial Times:

http://www.ft.com/intl/cms/s/0/c68c0250-379f-11e1-a5e0-00144feabdc0.html

"In fact, concludes Mr Lack, while many hedge fund managers have prospered from hefty fees, the bulk of their investment gains have not been shared with clients. On an asset-weighted basis, measuring cash invested to cash returned, hedge fund investors in aggregate, while narrowly beating the average return from equities, would have made more money over the past decade from investing in government bonds, and even from Treasury Bills.


"Of course the experience of 2008 colours these figures. According to Mr Lack, the hedge fund industry lost more money in that one year than all the profits it had generated during the previous 10 years. In fact most likely, he says, is that hedge funds lost more money for their investors in 2008 than the industry had made in its entire history. If true, that would put the industry up there with airlines and banks in the annals of long-term, non-productive performers from an investor perspective.

"Not that the managers have suffered the same way, of course. That is the brilliance of the hedge fund model. Between 1998 and 2010, the book shows, _even on favourable assumptions hedge fund managers earned an estimated $379bn in fees, out of total investment gains (before fees) of $449bn. In other words, they took 84 per cent of the investment profits their funds made, leaving just 16 per cent for the investors.

"Once you make adjustments for survivorship bias, fund of funds fees and so on, it is probable, he suggests, that hedge fund managers have kept all the money made, and investors have in aggregate received nothing_." [italics mine]
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Andrew Boysen

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If a book advocates against intellectual property, should the author protect it was intellectual property law?
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Andrew Boysen

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"In his book The Mating Mind, University of New Mexico Professor Geoffrey Miller explained that in courtship, the best gifts are "the most useless to women and the most expensive to men." Flowers. Pricey dinners. Jewelery. The less useful, the better. Waste is the most efficient way to a woman's heart." Article via +Kevin Boudreau, but I take the credit/blame for the quote.
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Andrew Boysen

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New personal record - just hosted a 120 second conference call (15 people). It can't ever be canceled, because anybody (among hundreds or thousands of people, though we rarely top 50) can join to discuss questions or problems where the answers can't be found elsewhere. Some people just join to listen (sometimes people I've never even heard of chime in). There were NO problems this week - a Christmas miracle!
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haha nice! I can imagine which call that was, it was a Christmas miracle alright!
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Andrew Boysen

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On the topic of using pieces of the truth to deceive (as sales people tend to do, per a previous post), this is an interesting post about deceptive marketing with regard to free roaming [Australian] chickens, pure juice, or lower prices (relative to prices that were never actually higher in recent history). Amazon offers a lot of "Lightning" deals, where prices are temporarily lowered. I use CamelCamelCamel to view price history - sometimes there are OK deals, sometimes there is no history at all because the product is so new, and occasionally it's a great deal. But even the OK deals are sometimes worth buying, because Amazon's normal prices are competitive. But I do sometimes feel that they're trying to trick me.
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Andrew Boysen

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It's no coincidence that inflation adjusted Lego prices peaked when my five brothers (+Adam Boysen, +Mark Boysen, +Michael Boysen, +Peter Boysen, and +Tim Boysen) and I were in peak Lego buying years. We mostly got the animal cracker box sized sets, but we were the Lego fortune at the bottom of the Lego pyramid. Via +Joshua Gans Disclaimer: I'm applying to Rotman's PhD program in Strategic Management, and trying not to +1/retweet stuff from faculty who might have to review my application, but I couldn't pass this up. Imagine a Lego Jedi telling you to forget this, if it violates any norms.
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Have him in circles
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Andrew Boysen

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There's a 95% chance that this post is completely right.
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Every year, about this time, we start getting frantic calls from huge companies that need to blow budget money as fast as possible before the end of the year (we're REALLY good for that). Somehow they never see it coming. And who puts these insane policies in place, encouraging employees to spend money this way?
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Andrew Boysen

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Remember when you used to be able to Google a phone number, and see who called you? Now all you get is 20 pages of ads for paying to see who called you (all of them look sketchy - like they'll steal my money, and not tell me who called). This is a market failure.
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ah, looks like they changed reverse phone lookup to a premium service. the name search is pretty good though.
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Andrew Boysen

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Some stores "seduce" you by hiring people who have the "right look" to work in their stores, even if only for a few hours a week. One of several articles from this blog on "aesthetic labor".
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In case you've ever wondered if sales people are sneaky - they are. I think ALL people do this to some degree though - it sounds a lot like what goes on in job interviews. When somebody tells me their greatest weakness is perfectionism, I like to stop and say, "Oh... that is really bad." I know that is a horrible interview question, but I like to hear what applicants sound like when they're lying.
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Andrew Boysen

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Airplane parts turned into furniture and lighting, made in the USA by a friend of mine.
 
15% off all items now till Christmas Use code ONEWEEKLEFT @etsy @PLANEPIECES http://www.etsy.com/shop/planepieces #aviation #art #onsale #etsy #newitems
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Have him in circles
132 people
Scott Williams's profile photo
Matt Brown's profile photo
Patrick O'Neill's profile photo
Chad Weldon's profile photo
Nancy Yen's profile photo
Education
  • Wharton School of the University of Pennsylvania
    Doctoral studies in Management, 2012 - present
  • Babson College
    BS in Business Administration, 1999 - 2003
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Gender
Male
Work
Employment
  • Oracle Corporation
    2003 - 2012
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Philadelphia, PA
Previously
Medway, MA - Wellesley, MA - Winona, MN - Breckenridge, MN - Austin, MN
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