Batten down the hatches…
The seas are swelling and getting rough. Over the last few weeks we’ve heard quite a bit about hedge funds blowing up and performance tanking. Frankly, it does not seem to be letting up anytime soon. The news is quite bleak and I know that you are not turning to this blog to hear more of the bad news; for that read The Financial Times and The Wall Street Journal. My one comment is this; the times ahead will be very treacherous and be prepared for more blood in the streets. The week before last we had the HedgeAnswers program in San Francisco. It was a great event. The roundtable […]
It’s The Rules That Get You…
Last week the Securities and Exchange Commission adopted rules that allow it to sue hedge fund managers for “misleading investors.” This is its response to last year’s court ruling throwing out a 2004 registration requirement. After reading about these new rules, I was reminded of a scene in The Untouchables movie between Elliot Ness and Al Capone. Ness, as most of you will recall, was played by Kevin Costner and Capone was played by Robert De Niro. The scene takes place in the lobby of the Lexington Hotel, Capone’s home, De Niro shouts, in a rage that only he could bring to the screen, “You got nothing; you got nothing!” […]