Fund
the System of Hedge Funds is broken - the Guardian: LINK ¤ the GUARDIAN
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- "Ray Dalio - from the hedge fund - Bridgewater Associates ! - ( 0.01% ! )"
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- "goes public - with concerns - and worries - about the system !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "of hedge funds - this 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 - must shrink !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "it is about - real income growth !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! - ( in US - decades ! )"
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- "it is about - education - healthcare - the tax system - the prison system !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "he is worried - about the future - of society !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "and the individuals - living in !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "the capitalism system - needs to be reformed !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "because first of all - it has to be - fairer !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "the whole system - needs to be - stabilized !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "it has to be - with the collective involvement - of people !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "who bring - not only different perspectives - but different !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "skills - to bear on the different - challenges !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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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 - as many people - as possible !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "at his fellow colleagues - it is interestingly - not about tax !"
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- "but the system - has to be good !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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the Hedge Fund Model is under Challenge - the Guardian: LINK ¤ the GUARDIAN
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- "hedge funds - if you do not deliver - for your investors ?!"
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- "you do not get to collect - fees - big enough to brag about !"
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- "this year was 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 is under assault" !"
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- "Cooperman even openly questioned - whether it made sense - for him !"
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- "to keep his hedge fund - open - after some of his investors !"
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- "asked for their money - to be returned to them !"
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- "he lost money - for his investors - last year !"
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- "their managers - are doing very badly - when it comes to that task !"
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- "identifying a cluster of investments - that should perform far !"
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- "far better - than the broad market !"
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- "and deliver - outsize returns - to their investors !"
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- "there is only space - for some hedge funds ! - ( not too much ! )"
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- "last year is for Bill Ackman - Pershing Square Capital Management !"
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- "utterly disastrous - his fund stays alive - his investors - pay a !"
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- "1.5% - management fee - regardless of performance !"
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- "but in the wake - of his big losses - due to bad bets !"
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- "Pershing Square plungs - more than 40% !"
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- "hedge fund managers - typically got paid - based on a structure !"
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- "known as - two - and 20 - in which they collected - a 2% fee !"
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- "on the assets - they manage - and earned - 20% !"
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- "of the profits - they made for investors !"
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- "a real problem - are those investing professionals - managing !"
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- "other people’s money - who have failed - to scream foul !"
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- "quants - quantitative hedge fund managers - either rely exclusively !"
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- "on computer models - algorithms - to tell them - when and what - to buy and sell !"
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- "or to help their - decision-making - it is to be hoped - that investors !"
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- "strive to understand - what lies - behind some of these - "black box" - models !"
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- "it is likely - that the number of hedge funds - will continue to diminish !"
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- "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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- "and it is about the question - of just how these hedge funds - are better taxed ?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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EU moves to curb Food Price Bets - the Guardian: LINK ¤ the GUARDIAN_________________________________________
- "the European Union - votes through rules - to limit !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "the ability - of banks - and hedge funds - to bet !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "on food prices - the new rules - known as Mifid !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "curb speculation - and help decrease - price volatility !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "the rules - establish an effective system - of limits - on the positions !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "taken by - financial players - to curb speculation - of staple foods !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "and other commodities - Michel Barnier - the European Commissioner - responsible for !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "financial services - says companies - must not be profiteering - from food trading !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "the new rules - are a key step towards establishing - a safer !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
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- "and more responsible - financial system !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!"
BERKSHIRE HATHAWAY - Wikipedia EN: LINK ¤ BERKSHIRE HATHAWAY
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- "Berkshire Hathaway Inc. - holdings !"
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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. - private equity company - short-term investor !"
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- "leveraged buyouts - cash flows used as collateral - or "leverage" !"
BLACKSTONE Group - Wikipedia EN: LINK ¤ BLACKSTONE
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- "the Blackstone Group Inc. - private equity - short-term investor !"
TPG - Wikipedia EN: LINK ¤ T P G
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- "TPG Capital - private equity - short-term investor !"
CARLYLE Group - Wikipedia EN: LINK ¤ CARLYLE
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- "the Carlyle Group - private equity - short-term investor !"
PAULSON & Co - Wikipedia EN: LINK ¤ PAULSON
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- "Paulson & Co. Inc. - hedge fund - short-term investor !"
BRIDGEWATER Associates - Wikipedia EN: LINK ¤ BRIDGEWATER
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- "Bridgewater Associates - hedge fund - short-term investor !"
QUANTUM - Wikipedia EN: LINK ¤ QUANTUM
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- "Soros Fund Management LLC - hedge fund - short-term investor !"
CITADEL LLC - Wikipedia EN: LINK ¤ CITADEL
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- "Citadel LLC - hedge fund - short-term investor !"
DE SHAW - Wikipedia EN: LINK ¤ DE SHAW
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- "D. E. Shaw & Co. L.P. - hedge fund - short-term investor !"
RENAISSANCE Technologies - Wikipedia EN: LINK ¤ RENAISSANCE
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- "Renaissance Technologies LLC - hedge fund - short-term investor !"
HEDGE FUNDS - Wikipedia EN: LINK ¤ HEDGE FUNDS
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- "a hedge fund - tried to use - leverage - borrowing money !"
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- "hedging techniques - trading on margin - or derivatives !"
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- "management fees - 2% - of the fund's net asset value !"
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- "and a performance fee - of 20% ! - ( high-risk investment ! )"
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- "Long-Term Capital Management LP - LTCM - was a hedge fund !"
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- "management firm - that 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 - this fund !"
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- "needed to take - highly-leveraged positions ! - ( 30 to 1 ! )"
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- "in 1998 - LTCM had equity of - US$ 4.72 billion !"
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- "and had borrowed - US$ 124.5 billion !"
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- "off-balance sheet - derivative positions - notional value - 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 LTCM - afterwards liquidating - and dissolving !"
