Hedge funds haven of hit and run capital
David Stockman, Budget Director under President Reagan and then a partner at private-equity firm Blackstone Group, mercilessly dissects hedge funds the last thing hedge funds do is hedge in Chapter 23 of his bestseller, THE GREAT DEFORMATION: THE CORRUPTION OF CAPITALISM IN AMERICA. This is the tenth installment (ninth installment here).
The operative word with respect to these giant hedge fund pools is capricious. Savers traditionally functioned on the free market as agents of financial discipline, allocating funds to asset managers who had established a well-seasoned record of diligence, rigor, and consistency. By definition, old-fashioned savers on the free market deliberately chose to defer immediate consumption and gratification; they were looking for stable, reliable returns over the longer haul, not overnight riches.
Ga verder met lezen
Dit vind je misschien ook leuk
Laat mensen jouw mening weten
