I was watching TV the other day and an advertisement came on for the movie, "The Assassination of Jesse James by the Coward Robert Ford".  The Jesse James character muses to a young, infatuated Robert Ford, "Do you want to be like me, or do you want to be me?"

This is what hedge funds must feel like with hedge fund replication.  Until recently investors have been told that hedge fund returns are not properly replicable but what happens if we can not only properly replicate these returns but do so at a significantly lower cost?

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