We soon discovered the cause: the nonperformance of the stapling device.

WSJ: Book Excerpt: Confessions of a Surgeon

Many hedge funds take 2% of assets in administrative fees and 20% of annual profits, a model Mr. Buffett has criticized as offering pay for nonperformance.

WSJ: Buffett Aides Score Big Payday

Performance fees, in an era of nonperformance, dried up.

FORBES: Clipped Hedges

Nonperformance today is almost preordained.

FORBES

In October 2010 she shocked Wall Street by sending BNY Mellon and Bank of America a notice of nonperformance, the first step in a process that could have allowed Patrick to declare a default on those bonds and sue BofA directly on behalf of the trusts.

FORBES: Business Strategy