They just don’t know it yet, so sayeth New York magazine.
For like the Tea Party before it, Occupy Wall Street has at last grown up, morphing into a lobbying effort that’s got Dan Loeb and his ilk right in its sights.
It knows the war will be long; it knows there will be setbacks, like its foundering effort to save Puerto Rico from its bills. As with the ongoing battle to keep the government’s hands off angry old emphasematics’ Medicare, the road will be long.
But like Ted Cruz, they know deep down inside of themselves that they are winning, because hedge funds are the same as Apartheid... or something.
New York City public advocate Tish James, a NYCERS trustee, gives some credit to Hedge Clippers for the decision to divest. The group's arguments reached “the minds of a number of individuals who want to be conscious about our public investments,” she says, and likens its efforts to the 1980s campaign to pull money out of apartheid South Africa….
The industry can’t ignore the winds of change. “The pressure on institutional investors to reduce, or abandon, their exposure to hedge funds is growing,” placing the industry at a “tipping point,” says HFI managing editor Nick Evans.
Activists Have Declared War on Hedge Funds – and They Might Be Winning [Daily Intelligencer]