Levered long tech is not a hedge fund strategy

Is crossover/VC complex drawdown the biggest destruction of alternative asset dollars in the last 30 years? 

Wouldn't be surprised if majority of these funds are close to net negative returns on a pure dollar basis e.g. Whale Rock, Altimeter, Dragoneer, Tiger

Hopefully allocators get a little smarter and don't pay 2/20 for a strategy you can easily replicate with some ETFs and a margin loan

(Same difference for the biotech fad that's also blowing up)

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