Forbes – As the former compliance director of one of the nation’s largest money managers, I was puzzled by a recent letter published in the Providence Journal by Roger Begin, former Rhode Island Treasurer and Vice President of BNY Mellon Wealth Management, defending the current state treasurer’s decision to invest 25% of the state pension’s assets in high-risk, high-cost hedge funds. Included in his ranting, Begin stated that I was naïve and wrong to believe that hedge funds are riskier than traditional investments.
Does BNY Mellon Really Believe Hedge Funds Are No Riskier Than Traditional Investments?
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