Globe and Mail- Brian Gibson does not believe in the unspoken Bay Street commandment that Thou Shalt Not Accuse Thy Fellow Capitalists of Greed. He never has and, having long ago reached the age when a man’s opinions harden, probably never will.
“It’s not like you have to rip people off to make money,” says the 52-year-old investor, who, it hardly needs to be said, believes far too many people in his field are all too happy to rip people off. Take hedge funds. At the typical fee – 2 per cent of assets, plus 20 per cent of the profit – many are nothing more than “get-rich-quick schemes for managers,” he says. “You’re paying all this money for average results.”
So what’s he planning to do with the rest of his life? Manage a hedge fund, of course.
