Great work by @ZachShahan. It is very hard to believe anyone is investing in this guy for his financial acumen. It's even harder to believe anyone in their right mind would pay him the substantial fees usually associated with hedge funds. The average hedge fund charges a 1.5% management fee and 17% incentive fee these days. The Hedge Fund Fee Conundrum With such a small amount under management and lousy returns it seems like he would need to charge even more to keep the lights on. On the other hand, he trashes Tesla non-stop on social media, in the press and in the occasional conference. Maybe some of the people "investing" in his micro "fund" aren't doing it for the returns but want to support him in his anti-Tesla attacks. Paying a small management fee and the odd incentive fee when he actually manages to make money could be a way of indirectly paying him to keep up his five year anti-Tesla campaign, while providing deniability with the SEC.