Friday, September 21, 2007

Death of the Hedge Funds

One thing will be much better by February  - there will be fewer Lamborghinis in London. They are ugly, unwieldy cars and their drivers have 'tosser' stamped on their foreheads in letters of fire. There will be fewer because, as I was told by an investment manager the other night, the hedge funds are finished. They will carry on but not as remotely fashionable or exciting enterprises. The unravelling of this horrible industry - I include private equity operations -  is rapid and welcome. Welcome because life is always better without these destructive hot money, 'we've beaten the market' schemes and because hedge funders might be forced to do something useful like drive taxis. Perhaps, in the not too distant future, I shall even be able to eat at the Mirabelle again. 

8 comments:

  1. Your message is filtering through to The Resistance, faster than you could have hoped for, Bryan.

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  2. The idea that hedge funds may be on the way out fills me with joy, as does the completely unrelated news, reported by the BBC this morning, that bitterns are booming again in East Anglia.

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  3. Not unrelated at all, Sophie. And what is The Resistant, johnny? The link takes me to some BBC tech thing.

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  4. (not that I condone vandalism or anything like it but) wouldn't it be marvellous if loads of people turned out to offer to do one hour's community service and pay a quid towards his fine. in a parallel universe, such things happen.

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  5. But Bryan, I make a living out of these people. I know that might make me a parasite of parasites, but where am I going to apply my blood-sucking skills from hereon?

    Answers on the back of a signed cheque would be appreciated.

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  6. Don't worry, Recusant, there'll be another lot along in a year or two. They come and go - same ideas with different names.

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