Moore Capital is shrinking - Louis Bacon is profiled here.
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2 Responses to “The Euro Crisis is Tough on (Some) Hedge Funds”
Anybody who thinks a Financial Transaction Tax is a bad idea should read that article.
These people serve no economic purpose.
“In 1990, he made a series of winning bets that Saddam Hussein would invade Kuwait and would be quickly routed with no lasting effect on the market. That became the foundation of his reputation — securing a 115 percent two-year investment return and a flood of investment assets.”
What an idiotic generalisation. Please google Ray Dalio, CIO and founder of Bridgewater Associates, the biggest hedge fund on the planet bar none. He puts out educational ‘letters’ which detail exactly what has caused the crisis and exactly what would fix it. Hugh Hendry does something similar on occasion, as do many other hedge fund managers. These guys understand better than anyone what is wrong with the world, and they’re generally quite vocal on telling everyone. That they also choose to profit from these understandings, and other people’s unwillingness to listen to them, should not be held against them. No doubt they are just ‘evil speculators’ in some people’s sadly closed minds.