Bloomberg – James Tisch, who invests in hedge funds to boost returns at Loews Corp. (L), said he avoids managers with the largest pools of money and sleeps better at night knowing he doesn’t face the same prospect of client withdrawals.
“We are very wary of managers that have $10 billion, $15 billion, $20 billion, because you have to wonder, how can they generate outsize returns with so much money,” Tisch, Loews’s chief executive officer, said today at the Bloomberg Hedge Funds Summit in New York. “We are constantly looking and probing and trying to find the new guys on the street, the people that aren’t loaded to the gills.”
