Fund
the System is broken - the Guardian: LINK ¤ the GUARDIAN
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- "Ray Dalio, from the hedge fund Bridgewater Associates - one of a handful of the 0.01% !"
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- "goes public with concerns, and worries - about the system !!!!!!"
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- "the system - is broken !!!!!!!!!!!!!!!!!!!!!!!!"
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- "he writes in a series - of viral posts !!!!!!"
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- "the gap between rich and poor was too wide - and many people in the US have not seen real income growth in decades !!!!!!!!!!!!"
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- "education, healthcare, the tax system, the prison system - and political deadlock !!!!!!!!!!!!"
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- "have created a situation that presents an "existential risk" - to the USA !!!!!!!!!!!!!!!!!!"
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- "he is worried about the future of society - and the individuals living in !!!!!!!!!!!!"
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- "the capitalism system needs to be reformed - because first of all it has to be fairer !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "in the past it had created a structural flaw - that threatens to bring the whole system down !!!!!!!!!!!!"
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- "if we are to find a way out of this mess - it will be with the collective involvement of people !!!!!!!!!!!!!!!!!!!!!!!!"
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- "who bring not only different perspectives - but different skills to bear on the problems !!!!!!!!!!!!!!!!!!!!!!!!"
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- "all systems should evolve - we all need to evolve !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "we need to be reformed - constantly !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "we have to work together and this all has to be done in a bipartisan - or not partisan way !!!!!!!!!!!!!!!!!!"
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- "( because division - was a risk ! )"
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- "the reaction to his capitalist critique from fellow colleagues has been - overwhelmingly agreement !!!!!!!!!!!! - ( although not open agreement )"
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- "their fear is not - that they will be taxed more !!!!!!!!!!!!"
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- "that’s interesting, because I think most people think that that’s their - main fear !!!!!!"
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- "the system - has to be good !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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Hedge Funds have a lot to Answer for - the Guardian: LINK ¤ the GUARDIAN
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- "the hedge fund universe is a ruthless one - if you don’t deliver for your investors !!!!!!!!!!!!"
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- "you don’t get to collect fees - big enough to brag about !!!!!!!!!!!!"
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- "this year is notable - for the flight of investors from hedge funds !!!!!!!!!!!!!!!!!!!!!!!!"
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- "the hedge fund model - is under challenge !!!!!!!!!!!!!!!!!!"
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- "Leon Cooperman says - it’s under assault !!!!!!!!!!!!!!!!!!"
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- "Cooperman even openly questioned whether it made sense for him - to keep his hedge fund open ?!!!!!!!!!!!!"
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- "after some of his investors asked for their money - to be returned to them !!!!!!!!!!!!"
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- "he lost money - for his investors this year !!!!!!!!!!!!"
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- "managers are doing very badly - when it comes to that task: !!!!!!!!!!!!"
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- "identifying a cluster of investments that should perform far, far better - than the broad market !"
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- "and deliver outsize returns - to their investors !"
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- "this year is for Bill Ackman, Pershing Square Capital Management - utterly disastrous !!!!!!!!!!!!"
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- "his fund will stay alive - his investors pay a 1.5% management fee, regardless of performance !"
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- "but in the wake of his big losses due to bad bets - Pershing Square plungs more than 40% !!!!!!!!!!!!"
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- "before he could begin to pocket - his incentive fee !"
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- "he would have to recover that lost ground - by some estimates, he would need a 60%-plus rally !"
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- "hedge fund managers typically got paid based on a structure known as - two and 20 !"
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- "in which they collected a 2% fee on the assets they manage - and earned 20% of the profits they made for investors !"
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- "hedge fund were clinging on to a fee model - that belongs in the age of tailoring !!!!!!!!!!!!"
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- "a real problem are those investing professionals - managing other people’s money - who have failed to scream foul !!!!!!!!!!!!"
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- "to those outside this circle, it look likes larceny - why is the financial industry’s reputation still at rock bottom ?!!!!!!!!!!!!!!!!!!"
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- "and why are electorates around the world in rebellion - to reduce inequality ?!!!!!!!!!!!!!!!!!!"
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- "the "quants", quantitative hedge fund managers - either rely exclusively on computer models !"
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- "algorithms - to tell them when and what - to buy and sell !"
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- "or they use them - to help their decision-making !"
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- "it’s to be hoped that investors strive to understand - what lies behind some of these "black box" models ! )"
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- "it is past time to address the longstanding question of just how these hedge funds - are better taxed !!!!!!!!!!!!!!!!!!"
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- "it is likely that the number of hedge funds - will continue to diminish !!!!!!!!!!!!!!!!!!!!!!!!"
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- "and that investors will continue to pull assets - out of the hands of hedge fund managers !!!!!!!!!!!!!!!!!!"
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- "that is good news - it is simply impossible for each and every one !!!!!!!!!!!!!!!!!!"
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- "to add the kind of value - that they promise !!!!!!!!!!!!"
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- "it is an area that can only deliver what it pledges - if it remains small !!!!!!!!!!!!!!!!!!!!!!!!"
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EU moves to curb Food Price Bets - the Guardian: LINK ¤ the GUARDIAN_________________________________________
- "the European Union votes through rules to limit the ability - of banks and hedge funds !!!!!!!!!!!!!!!!!!"
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- "to bet - on food prices !!!!!!!!!!!!!!!!!!"
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- "the new rules, known as Mifid - curb speculation !!!!!!!!!!!!!!!!!!"
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- "and help decrease - price volatility !!!!!!!!!!!!!!!!!!"
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- "the rules establish an effective system of limits - on the positions taken by financial players !!!!!!!!!!!!"
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- "to curb speculation of staple foods - and other commodities !!!!!!!!!!!!!!!!!!"
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- "Michel Barnier - the European Commissioner responsible for financial services !!!!!!!!!!!!"
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- "has described companies' profiteering from food trading - as outrageous !!!!!!!!!!!!!!!!!!"
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- "the new rules are a key step towards establishing a safer - and more responsible financial system !!!!!!!!!!!!!!!!!!!!!!!!"
BERKSHIRE HATHAWAY - Wikipedia EN: LINK ¤ BERKSHIRE HATHAWAY
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- "Berkshire Hathaway Inc. - is a holdings company"
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- "Warren Buffett is a - long-term investor !!!!!!"
Kohlberg Kravis Roberts - KKR - Wikipedia EN: LINK ¤ K K R
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- "KKR & Co. Inc. - is a private equity company"
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- "Kohlberg Kravis Roberts is a risky - short-term investor !!!!!! - ( in leveraged buyouts the target's cash flows were used as the collateral, or "leverage" - to repay the borrowed money ! )"
BLACKSTONE Group - Wikipedia EN: LINK ¤ BLACKSTONE
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- "The Blackstone Group Inc. - is a private equity company"
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- "Blackstone is a risky - short-term investor !!!!!!"
TPG - Wikipedia EN: LINK ¤ T P G
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- "TPG Capital - is a private equity company"
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- "TPG is a risky - short-term investor !!!!!!"
CARLYLE Group - Wikipedia EN: LINK ¤ CARLYLE
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- "The Carlyle Group - is a private equity company"
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- "Carlyle is a risky - short-term investor !!!!!!"
PAULSON & Co - Wikipedia EN: LINK ¤ PAULSON
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- "Paulson & Co. Inc. - is a hedge fund company"
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- "Paulson & Co is a very risky - short-term investor !!!!!!"
BRIDGEWATER Associates - Wikipedia EN: LINK ¤ BRIDGEWATER
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- "Bridgewater Associates - is a hedge fund company"
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- "Bridgewater is a very risky - short-term investor !!!!!!"
QUANTUM - Wikipedia EN: LINK ¤ QUANTUM
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- "Soros Fund Management, LLC - is a hedge fund company"
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- "Quantum is a very risky - short-term investor !!!!!!"
CITADEL LLC - Wikipedia EN: LINK ¤ CITADEL
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- "Citadel LLC - is a hedge fund company"
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- "Citadel is a very risky - short-term investor !!!!!!"
DE SHAW - Wikipedia EN: LINK ¤ DE SHAW
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- "D. E. Shaw & Co., L.P. - is a hedge fund company"
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- "DE Shaw is a very risky - short-term investor !!!!!!"
RENAISSANCE Technologies - Wikipedia EN: LINK ¤ RENAISSANCE
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- "Renaissance Technologies LLC - is a hedge fund company"
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- "Renaissance Technologies is a very risky - short-term investor !!!!!!"
HEDGE FUNDS - Wikipedia EN: LINK ¤ HEDGE FUNDS
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- "a hedge fund tried to use leverage - the practice of borrowing money ! - ( the name "hedge fund" refered to - hedging techniques ! )"
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- "trading on margin - or using derivatives !"
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- "management fees were 2% - of the fund's net asset value !"
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- "and a performance fee of 20% - was typically !"
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- "such fees created an incentive - for high-risk investment !!!!!!!!!!!!!!!!!!"
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- "Long-Term Capital Management LP, LTCM - was a hedge fund management firm !"
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- "the company tried to use - complex mathematical models !"
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- "of fixed income arbitrage deals - usually with government bonds !"
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- "because these differences in value were minute - especially for the convergence trades !"
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- "the fund needed to take - highly-leveraged positions !"
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- "at the beginning of 1998 - the firm had equity of US$ 4.72 billion !"
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- "and had borrowed - over US$ 124.5 billion !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "it had off-balance sheet derivative positions - with a notional value of US$ 1.25 trillion !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "in 1998 the hedge fund lost US$ 4.6 billion - in less than four months !!!!!!!!!!!!!!!!!!!!!!!!"
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- "with the fund afterwards liquidating - and dissolving !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
