Cash for gamblers: Government bankrolls hedge fund bets
The Wall Street Journal reports today that large banks have resumed lending money to hedge funds and other institutional investors. A closer look at this at this development reveals painful conflicts and new depths of fraud perpetrated against taxpayers.
The Wall Street lending machine, also known as the prime brokerage business, exists because commercial banks that [...]
Hedge fund song of the season
Let it Grow
(as sung by a 2009 HF marketer)
Oh the weather outside is shitty.
And my bed it looks so pretty.
But since I was not let go
I’ll make dough, I’ll make dough, I’ll make dough
There ain’t any funds to gather
But still I’ve got to blather
My cranky boss CIO
Wants to grow, wants to grow, wants to grow
When [...]
The new AR debuts!
My editor, Michelle Celarier, appeared on this morning’s Squawk Box to discuss the premiere issue of AR: Absolute Return + Alpha, the world’s premier hedge fund magazine (if I do say so myself).
Capitalist hedge fund managers face U.S. rendition
(Cliff Asness of AQR recently fought back against President Barack Obama’s efforts to paint hedge funds and other investors as “selfish” for refusing to take haircuts on their loans to Chrysler. Cliff told me this morning that he’s traveling. I think his outspokenness makes him vulnerable as a “capitalist enemy combatant” and I have advised [...]
SEC Hedge Fund Registration is a Joke
Politicians are continually whining about how hedge funds need to be registered. Many already are because some large investors insist on it. Others don’t register. They don’t need to to raise money and they don’t want the hassle. But it’s not much trouble, really, because the registration reporting requirements, so far as I can tell, [...]
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As with Anna Karina, we prefer to remember the U.S.A as she was in the 1960s.
Seek and ye shall find
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