Down Is The New Up

  • 30 Oct 2008 at 8:05 AM

Cash Is King

Reputation is everything, it seems. So while others are closing shop, the likes of SAC, Greenlight, Elliott Management and Brevan Howard Asset Management have raised billions. Of course, Stevie Boy isn’t taking money until January, since his idiot portfolio managers forced him to close most of SAC’s operations in disgust earlier this month.
Just a guess, but do you think Bloomberg has it right? Do high water marks have anything to do with it?
SAC’s Cohen, Einhorn Raise Money as Most Hedge Funds Shrink [Bloomberg]