Featured Post Today's Post » Hedge fund industry enters time-warp in January 1970, pops out virtually unchanged in 2008:
A few look-ins:
"...the similarities between the hedge fund world of 1970 and that of 2008 and truly amazing - almost eerie in fact. Even the 39 year old Warren Buffett makes a cameo in this piece. As Motson pointed out to us, “…if you re-scale the numbers it could have been printed yesterday.”and later:
"“…there is some disagreement these days as to the definition of a hedge fund…it would appear that they key feature of a hedge fund is neither the hedge nor the leverage, but instead the method by which the general partners are compensated.”
and still later:
Great great piece. Very interesting and it reminds us the importance of history.
"“Investing with the Stars”
Think Britney Spears and Sylvester Stallone were the first celebrities to invest in hedge funds? Think again. FORTUNE also reported that Jimmy Stewart, Rod Steiger, and Jack Palance were all co-investors in one California-based fund."