Our advice: Avoid investing in funds named for secure buildings or edifices that are expected to resist attacks from barbarian hordes, throngs of Mongolian horsemen that blot out the rolling hills, or otherwise protect the occupants (like your cash) from serious injury, sale into slavery, ritual execution or beheading, rape, or the depletion of capital. Remembering Patton (“fixed fortifications are a monument to the stupidity of man.”) you might instead want to invest in smaller, nimbler, more agile structures that can simply slip across the border when Atilla the Hun invades. Consider the French Maginot Line, Fort Eben-Emael, that guarded the Gap of Vice, or, in what is just the latest, modern example:
Fortress Investment Group LLC’s hedge-fund clients have asked to pull more than $4.5 billion, or a quarter of their money, over the next few months as the company reported its first quarterly loss since going public.
The redemption requests poured in as Fortress’s Drawbridge Global Macro funds lost 13.5 percent this year through Sept. 30 and its Special Opportunities funds declined as much as 7.2 percent, the New York-based company said today in a statement. Hedge funds fell an average of 11.6 percent in the same period, according to the HFRX Global Hedge Fund Index.
With enough research, one might even discern a pattern.
Nice Patton quote!
Also Dien Bien Phu. ALso First!
oh oh, i know how to save them! Is it too late to do another IPO?
what’s happening at MS today? bloodbath?
The correct spelling is “hordes.” “Hoards” is what SAC does with the leftover pastries in the break room.
You mean, like a Citadel?
It is only a matter of time until they fold up their circus tent and go to another town….
@4:
they were down 15% yesterday, they’re performing WELL today.
Heard there will be more ML layoffs on Monday…
Hmmm … does a Highbridge fall into that category?
Idiot, he means what about *layoffs* at MS.
sheeeeeeeit – multi-year lows ahead hombres. Feels so good to be in cash.
Charlie says C may combine with AXP. What? Who makes this stuff up?
Looks like people are finally realizing the Vikram is in way over his head. Maybe he thought he was getting in at the low and would just ride the tide lifting all boats?
Wow. Can we get back that money we paid for his hedge fund?
whatever, i bought $15 puts on monday. the firm is going under, they’re going to have 100% layoffs.
Dow
damn Princeton boys
Question though, if so much $ is being withdrawn from hedge funds, where is it going? Do the ‘rich’ have enough square footage of mattress space to simply hide it for a rainy day?
dang. just when i was going to name my new hedge fund Bastille…
Priapus is investing in the Bunny Ranch…
Titanic Financial
Hindenberg LLC
English Dental Care plc
A. Hitler Global Domination Fund
Hitler, who said anything about Hitler?
“Posted by guest, Nov 13, 2008 1:06PM
The correct spelling is “hordes.” “Hoards” is what SAC does with the leftover pastries in the break room.”
Quite right. Thank you.
It is their own fault for lowering the drawbridge.
The Drawbridge keeps the inside people in, as well as the outside people out.
No redemptions til the war is WON! (or until we are overrun and slaughtered, whichever comes first)