|
There's a great piece in The Wall Street Journal about how Wall Street's masters of the universe invest their money through family offices, and how that can sometimes raise eyebrows across the industry.
It's not hard to see why family offices can be a problem. Big-time investors are supposed to be putting their clients' interests first, and The Journal report suggests that if they're investing for themselves, they might get distracted from their work.
Worse yet, their personal investments could pose a conflict for their firms.
There are a bunch of big names in the piece — Blackstone COO Tony James, the legendary hedge fund manager Paul Tudor Jones, and Apollo's Joshua Harris.
LINK
|