Julian Robertson: Hedge Funds Face Most Difficult Era

The video discusses the nature of hedge funds, suggesting they might be better termed as investment partnerships. It highlights the challenges hedge funds face in volatile markets, especially with low interest rates creating bubbles. The discussion covers the difficulties in achieving performance targets like the 2 and 20 fee structure, and the impact of short squeezing and quantitative strategies. The video concludes with a reflection on the evolving fee structures and the challenges in maintaining performance.

In what ways do low interest rates impact hedge funds according to the discussion?

What is the significance of the term '2 and 20' in the context of hedge funds?