Provocative Cover Story on Hedge Funds in current Forbes Magazine

Discussion in 'Wall St. News' started by CPTrader, May 11, 2004.

  1. Funny :D
    "If you believe what Wall Street says, hedge funds thrive because they make eminent investment sense for the rich and savvy. "Hedge funds are right for a person with lots of assets who can deal with the downsides," says David Darst, chief investment strategist for Morgan Stanley's individual investor group. George Herbert Walker, a second cousin of the President and head of Goldman Sachs' alternative investment strategies group, adds: "Sophisticated institutional investors have torn apart the hedge fund business. They've read or written the studies and know exactly what they're investing in."

    But hedge funds are a hotbed of questionable behavior, whether at blue-chip Wall Street firms or at fly-by-nights. Two youngsters and a 53-year-old assistant literature professor at a small college in New York formed a hedge fund, JB Stanley, and lost most of the $400,000 they raised from 15 investors. They siphoned off the rest for car payments, ATM cash withdrawals and other personal uses, according to SEC claims that led to a summary judgment against the three managers. "

    That's what I said in fact :
    "benchmarks headed for extinction- long live absolute returns? "

  2. What were their ET screen names?
  3. lol:D
  4. Steve789


    I thought Harrytrader left! Can't stay away with your crackpot theories Harry? Who cares about a couple of lunatics, (were they French Harry), who conned some people out of their money? People lose money everyday because of poor choices. So ALL hedge funds are bad then?
  5. Oh no, people need to be compensated for their stupidity these days. Maybe we can start a Hedge Fund Victim's Fund, and sock away the proceeds in a bank account and pay ourselves director salaries.
  6. manz66


    You just join ET, why are you hounding Harry? :confused:
  7. Doesn't matter : he beats the record of the youngest poster to be in my ignore list :D

    He said it: I'm french. Like Prince Philippe and others their true motive is clear. I'm more and more switching to another forum.

    Like with terrorists a minority suffices to disrupt a democracy. Baron can't do much I admit, in fact he has been great to try to balance everybody but with some kind of individuals it's just impossible.

  8. Harry,

    Would you please pm me the "other" forum you mentioned in a thread called; " Provocative Cover Story on Hedge Funds in current Forbes Magazine "

    I tried to PM you and your box is full.

    I actually enjoy reading your post's.

    Thank you,

    rttrader1 -
    #10     May 12, 2004