Who doesn’t hate hedge funds?
As summer draws to a close, the kids are back in school, the U.S. Open is over, the NFL playing for real (with TWO Monday night games) and anti-hedge fund rhetoric is everywhere. All the pundits seem to be over the top with joy that the funds were hit badly by the volatility that hammered global markets. Headline after headline screams about the weak performance of great and not-so-great names in the upheaval. Even GOP hopeful Donald Trump has ranted that hedge funds are “getting away with murder.” Click here for the clip. And while the debate on carried interest rages on and will clearly be an issue in the […]
It is all about liquidity…
Over the last few years, Wall Street’s leaders have changed from independent thinkers to drones marching to Washington’s drumbeat. The many who criticized the Street in the wake of the credit crisis, fueled by the failure of Bear Stearns, Lehman Brothers and Merrill Lynch, scared the Street into mediocrity. The resulting companies are massive behemoths bogged down by regulation and led by fearful supervisors who see little room for independent thinking. A giant sucking sound has replaced innovation over the last seven years, but instead of Mexico filling the void, as Mr. Perot believed, hedge funds are doing the job. Hedge funds, you see, are the last great bastion of […]