Monthly Archives: December 2006

Milton Friedman, R.I.P.

It’s strange that a Nobel Prize winning economist whose theories have proven to be both relevant and durable is instead eulogized primarily for his role as a libertarian polemicist. Mind you, I hold Friedman in high regard, more for his economic thinking than his politics (although even there I am selectively in agreement). His research […]


Fools and Their Money (Hedge Fund Edition)

Hedge funds continue to attract boatloads of money, despite humdrum performance. And worse, people who should know better persist in investing in them for the wrong reasons. In the New York Times a sophisticated institutional investor explains the logic: This year ”is the third straight year that the global equity markets and long-only managers outperformed […]