Monday, December 15, 2008

Here's some irony

Captain Capitalism links to a Bloomberg report that 30% of hedge funds are supposedly going to be going out of business due to the downturn. Now pardon me for asking, but wasn't the purpose of hedge funds to be to "hedge" for crises such as this?

Seems like some fund managers needed to brush up on basics like "debt makes your assets more, not less, volatile."

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