[kaleidic]

So disingenuous. Clarium was a bit ... volatile, but as I understand it generated 8 percent and change compounded returns over the life of the fund, and it likely wasn't that correlated with other funds in your portfolio, which means the idiosyncratic volatility was less of a concern than it might have been investing in a guy that ran with the herd.

A fund that does well can shape its returns, but you cannot control investor behaviour. So talking about a 90 percent loss of assets without mentioning the compounded return of the fund is really a sign that you aren't trying to be fair, but just stick the knife in. Or, throw enough mud and some of it will stick.