Area Hedge Fund Manager Wonders Why He Bothers Putting Up With This Crap Anymore

As has become a regular feature of his quarterly letters, Singer criticized the Obama administration, condemning the White House for proposed tax increases on the top tax bracket, and “its tone of hostility toward business, and boosting the unreviewable discretion of regulators.” For the hedge fund manager, who has been trading under the Elliott banner for 35 years, what he sees as the failings of the current U.S. administration are just one part of an increasingly complex web of global forces that are making the markets much harder to trade. “It is more difficult than ever to select ‘good’ First World investments based on careful financial analysis, fancy models, instinct or any other method,” Singer wrote. “Recommending shifts among bonds, which have almost no yield, highly volatile stocks and cash with zero yield is a thankless task.” [Reuters]

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70 Responses to “Area Hedge Fund Manager Wonders Why He Bothers Putting Up With This Crap Anymore”

  1. 400k/year says:

    don't talk to us about thankless tasks

    – every president since washington

  2. P. 'Niner' Falcone says:

    Finally, someone who knows how to allocate the blame for the situation we all currently find ourselves in.

  3. guest says:

    and by "thankless" I mean "unfathomably lucrative" since win or lose in the markets, I take a 2% management fee.

    • guest says:

      what's the matter singer? your taxes not high enough as it is? because a good way to solve that problem would be to personally make tens of millions of dollars in fees every year, regardless of how much value you create or destroy, and then publicly declare the task thankless.

      this guy is maybe not as smart as people say he is.

  4. oki says:

    I am no history quant but pretty sure when he opened up 35 years ago his taxes were higher, both personal income and cap gains.

  5. @brianpiercy says:

    Hedge fund manager wants to quit? Fine by me. Reduces the excess population. (Props to Scrooge.)

  6. .Bo says:

    I can get paid 2 and 20 and all I have to do is whine about how hard my job is? Where do I sign up?

  7. HungryIntern says:

    One of the ways you can solve your issue is by jumping off any bridge in the greater Tri-State area.

  8. guest says:

    this cock sucker says he cant manage risk and volatility? why the fuck is he even a fund manager? you have free cash, low interest rates, marginal leverage, and you cant short the fucker on a couple indexes??!!!!! wtf is up with these pansy little pricks!!! the jimmy carter years to george HW bush would have netted you more volatility less cash less leverage and more regulation. This cocksucker needs jump off a a fucking bridge already.

  9. Edmund says:

    Why is reality converging to an Onion article?

  10. Mancrush says:

    Amazing how this guy feels entitled to easy profits.

  11. El Guapo says:

    I feel your pain my friend. With Romney in office, happy days will be here again. We can go back to pillaging, plundering, and we will rape the horses and ride off on the women. Until then, be patient, your suffering will be over soon.

  12. guest says:

    i'm trying to think of another industry in which you could get away with informing your customers, in writing, that the job they pay you a gigantic fortune to do, you can't do, and that it is unrewarded.

  13. Not a fan,but... says:

    Listen, this guy's letters are annoying as fuck, and he is a whiny ass bitch. But for those wondering why his clients are willing to put up with it, it probably has something to do with his 13% annualized returns since 1994 with a Sharpe upwards of 2.

    The key phrase in this piece is "First World investments". Singer is going to continue to do what he does best: buy debt from a might-as-well-be militia-run country at a ridiculously cheap price, then sue said country with his world-class lawyers, then [?] to profit, then make his clients happy. It works, even if the dude is douchebag.

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