EOM
Steve Cohen Closing Fund August 1st
- Thread starter marketsurfer
- Start date
A soft close of his flagship fund is slated for August 1st . Sorry, but it's true
Its about time!
And you're washed up.
Here is the Washington Post headline, verbatim:
"Hero to liberals, Soros ends hedge fund career to escape regulations"
http://www.washingtonpost.com/busin...-regulations/2011/07/26/gIQApZ0hbI_story.html
http://economictimes.indiatimes.com...-leads-him-to-bow-out/articleshow/9381172.cms
Seriously, you're clueless. As I had written in another thread yesterday, only a small fraction of the funds under management is outside money. The substantial majority is his own, that of his family and his foundation. It is therefore a cost-benefit thing. Anyone in Soros's circumstances would do the same thing, and there is no hypocrisy outside of your own.
Proper regulation of the nature in question is certainly warranted where client money is concerned because of the potential for moral hazard by way of the potential disregard for risk because of the asymmetric nature of fund manager compensation. But when someone is dealing with their own money, then that moral hazard is rather diminished, wouldn't you say?
Embarrassed yet? (Hint: you should be.)