It is pointed out that credit risk? Operational risk and non-symmetry between risk and return are the main risks in commercial accepted bills and discounting business.

指出信用风险，操作风险及风险回报不对称是商业汇票承兑，贴现业务中的主要风险。

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It is impossible for any one manager to significantly add value and it seems likely the vast number of managers will result in, at best, a market rate of return net of fees, with significantly greater investment and operational risk.

FORBES: Pensions Perilously Binging Upon Hedge Funds, Funds of Funds and Funds of Funds of Funds (March 20, 2007)