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It is quite amazing how hard the subconscious works when it is made to understand that this life is not a rehearsal, there is no safety net and no assurance of any final closure. It is also quite appalling to realize how catatonic the imagination can become when we hedge our bets, opt for the safer direction at every fork in the path.
There is a simple rule here, a rule of legislation, a rule of business, a rule of life: beyond a certain point, complexity is fraud. You can apply that rule to left-wing social programs, but you can also apply that rule to credit derivatives, hedge funds, all the rest of it.
P. J. O'Rourke
Hedge funds, private equity and venture capital funds have played an important role in providing liquidity to our financial system and improving the efficiency of capital markets. But as their role has grown, so have the risks they pose.
Though bachelors be the strongest stakes, married men are the best binders, in the hedge of the commonwealth.
You can't have bank holding companies acting as hedge funds. You can't have them taking a million-dollar pension plan for Joe Schmo the bus driver and treat it with the same risk appetite that you treat George Soros' pocket money. It's fundamentally ridiculous.
Overwinding happens when hedge funds destroy companies by attempting to leverage derivatives against otherwise productive long-term assets.
One of the problems with hedge funds is that they are changing so rapidly. If you have the balance sheet that closed business last night, by 11 A.M. this morning, that won't tell you very much about what they're doing.
Hedge funds try to produce above-average investment returns using tactics ranging from traditional stock-picking to complex derivative and arbitrage plays. High minimum investments, redemption restrictions and aggressive strategies make them suitable mainly for more sophisticated and well-heeled investors.
The big advantage that we have as a venture capital firm over a hedge fund or a mutual fund is we have a 13-year lockup on our money. And so enterprise can go in and out of fashion four different times, and we can go and invest in one of these companies, and it's okay, because we can stay the course.
People think that because of my act that I must have a really busy mind and I must be driven. I really am not. I quite like going outside and looking at spiders on a hedge in my garden and stuff.
I don't like writing straight-up thrillers. I like writing about families hurled into crisis and danger - soccer moms and regular dads and husbands who might have to rescue their daughters or who are, say, hedge fund managers and have one foot on the sidelines watching their kids and the other in nefarious cover-ups and conspiracies.
Everyone is looking for the sure thing. They are looking to hedge their bet. They think the way to do that is to go with a proven quantity, a remake of something you have already seen. That is their mindset.
Some people in the art world bemoan the hedge fund millionaires spending freely to acquire ostentatious displays of wealth and coolth for their giddily chic designer duplexes. Others bemoan art being treated as a commodity. But most of the bemoaning is because the art world is stuffed full of bemoaners, bemoaning about everything.
From coast to coast, the FBI and Securities and Exchange Commission have ensnared people not only at hedge funds, but at technology and pharmaceutical companies, consulting and law firms, government agencies, and even a major stock exchange.
The free market is at its best when everybody works in a fish bowl and tells you their point of view... The hedge funds and portfolio managers have a right to do this... We've muted the analysts and their presence in the system.
In baseball, you can hit 40 home runs on a single-A-league team and never get paid a thing. But in a hedge fund, you get paid on your batting average. So you go to the worst league you can find, where there's the least competition.
There is no fence nor hedge round time that is gone. You can go back and have what you like of it if you can remember.
In 2008, people who invested in hedge funds needed capital badly, but many of the funds would not return their money. However, I gave money back to any investor who requested it. It was the bottom of the market and a pretty tough time.
Dozens of America's wealthiest taxpayers - including hedge fund legend Michael Steinhardt, super trial lawyer Guy Saperstein, and Ben Cohen of Ben & Jerry's fame - have appealed to President Obama not to renew the Bush tax cuts for anyone earning more than $1 million a year.
Many hedge fund managers have become billionaires; perhaps this - plus their reputations as the smartest guys in the room - is why they have captured the investing public's imagination.
Successful hedge funds will be entrepreneurial; it is the essence of the craft.
The pushback I get is, 'He's a hedge fund guy.' Full stop. Some places, that can be a badge of honor. In others, it's almost a term of derision.
I've nothing against Goldman Sachs. But Goldman Sachs isn't an investment bank. Goldman Sachs is a hedge fund. It's bigger than any hedge fund. It's more leveraged, to the power of three or five, than any hedge fund.
Substantially fewer films will be produced over the next year or two. And a significant portion of the production costs of the reduced slate will be borne by hedge funds and other investment groups.
Improving oversight of hedge funds and other private funds is vital to their sustainability and to our economy's stability.
A. P. J. Abdul Kalam
Martin Luther King, Jr.
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