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A comment on A Brief History of the Hedge Fund. Parent comment

Re:A Brief History of the Hedge Fund by matco11 on Tuesday March 23, 2021 @03:51AM (#26552216)
That’s what he originally had. ...Then he had a rough patch and asked his investors to switch to 2/20, so that he could keep operations running also during bad years. His investors agreed and 2/20 was born...
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Re:A Brief History of the Hedge Fund by valuearb on Tuesday March 23, 2021 @12:06PM (#26556639)
He never had a rough patch running the Buffett partnerships, or changed structure. He made money every year and his returns were roughly 40% annualized. Source: I’ve read the partnership letters.

And I’m pretty sure 2/20 was already a common fee structure on Wall Street before Buffett started his partnership.

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