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January 28, 2005
Hedge Funds, the entertaining side
See http://news.ft.com/cms/s/a2e879b6-708f-11d9-b572-00000e2511c8.html
Includes such gems as: Hedge funds have nothing to do with hedges.
You'd be forgiven for thinking otherwise as newspaper articles on the subject are invariably illustrated with pictures of garden hedges. and Hedge fund managers spend about 80 per cent of their day staring at computer screens.
The rest of their time is spent meeting companies that are looking for investors, barking instructions to dealers and having phone conversations that go like this: "Yup. Yup. Yup. Yup. The second half looks good. Yup. Yup. Yup. Yup." and "• Hedge fund managers have many more words and phrases for losing money than for making money.
My notebook reveals that Rob and Gervais had tens of different ways to describe losses ("we got burnt on that", "we got carted", "we got pissed all over") but only really one way of describing gains ("we made a fuckload of money on that"). (ain't that true...)
I love the FT for allowing whimsy to enter its reporting.
Posted by The Lounsbury at January 28, 2005 06:12 PM
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Jan-July 2005
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