Hedge funds that still have redemption restrictions are starting to get an earful from all sides. The decision by some of the usual suspects such as Citadel and Harbinger to continue to maintain total or partial redemption restrictions in certain funds has even drawn the ire of fellow managers.
"This is just wrong," wrote Paul Touradji, of Touradji Capital Management LP, in his 2008 year-end letter. "It's not good for our industry and it's hurtful to our partners who will have less money to invest because of other managers' losses, poor practices and the domino effect this sets off."
But investors who are fuming that their money is still tied up should take some minor comfort. At least they haven't been completely dehumanized by having the legendary Golden Tree payment-in-toxic-sludge-kind redemption program thrown in their face.
Withdrawal Limits Remain Despite Hedge Funds' Rise [WSJ]
Posted by guest , Jun 23, 2009 5:33PM
Greg-
My Fund Manager, Perez Hilton, thinks you're a faggot...FYI
Posted by guest , Jun 23, 2009 5:35PM
Greg,
See the flashing pink ad on the right side of the db homepage? click it.
Posted by guest , Jun 23, 2009 5:44PM
Cry me a river ...
Posted by guest , Jun 23, 2009 5:47PM
Greg, you are really good at your job. Feel good about yourself buddy.
Take care!
Posted by guest , Jun 23, 2009 5:57PM
g-money: tell these internet gangstas to fck off
Posted by guest , Jun 23, 2009 6:30PM
"It's not good for our industry and it's hurtful to our partners who will have less money to invest because of other managers' losses, poor practices and the domino effect this sets off."
There you go. Traders don't lose money; managers do.
'Nuff said.
Posted by guest , Jun 24, 2009 10:11AM
its to "perserve capital" i.e. allowing HF managers to keep gambling with others money and not have to dig into their holdings for new capital.