Steve Cohen Closing Fund August 1st

Discussion in 'Wall St. News' started by marketsurfer, Jul 27, 2011.

  1. EOM
  2. wrong.
  3. A soft close of his flagship fund is slated for August 1st . Sorry, but it's true
  4. and the story changes.
  5. Its about time!
  6. bone

    bone ET Sponsor

    Soros is closing completely - family only.

    Doesn't want to bother with Dodd-Frank. One more case of "do as I say, not as I do".
  7. You're an endless source of embarrassment for yourself.
  8. bone

    bone ET Sponsor

  9. Seriously, you're clueless. As I had written in another thread yesterday, only a small fraction of the funds under management is outside money. The substantial majority is his own, that of his family and his foundation. It is therefore a cost-benefit thing. Anyone in Soros's circumstances would do the same thing, and there is no hypocrisy outside of your own.

    Proper regulation of the nature in question is certainly warranted where client money is concerned because of the potential for moral hazard by way of the potential disregard for risk because of the asymmetric nature of fund manager compensation. But when someone is dealing with their own money, then that moral hazard is rather diminished, wouldn't you say?

    Embarrassed yet? (Hint: you should be.)
    #10     Jul 27, 2011