tag:blogger.com,1999:blog-3782644139927778760.post-63334765053034125012008-03-30T18:22:00.000-04:002008-03-30T18:22:00.000-04:002008-03-30T18:22:00.000-04:00Running a hedge fund is the best deal in the world. 2 and 20 and you get to play with other people's money.<BR/><BR/>But investing in a hedge fund? Pure stupidity. The only possible valid reason for a hedge fund is that it allows you to go short, a unique feature absent of mutual funds due to over-regulation. But most of these funds weren't even short funds. They were equity long, or, even more absurdly, they were long a bunch of bonds, collecting the yield spread, somehow convinced there was no risk in that spread.<BR/><BR/>The guys who got paid got lucky. The trades were stupid from the get-go. <BR/><BR/>I also find the use of the word "victim" by any of these guys to be appalling. Perhaps the investors could classify for that term, but the traders. Gimme a break.Anonymousnoreply@blogger.com