The Wall Street marketing machine is impressively efficient.  Given enough time it can churn out a product for “trees grow to the sky” investors, “the sky is falling” investors and everyone in between.

One of the latest fads is the absolute-return fund.  As the name suggests the funds are designed to provide positive total returns in any market without comparison to or targeting of a benchmark.

Like most investment fads this latest in the long line of products du jour has been long on sizzle and short on steak – failing to deliver while charging investors a hefty price for the privilege.

What’s behind the latest flop?  Is it poor management?  Is it a flawed model?  Is it both?  Find out here.