Quote:
Originally Posted by BYU71
I don't know if I was right or not, but Bear Stearns announced in the last couple of days it has a hedge fund that will not be honoring redemptions. I guess the fund is in trouble.
You hand young Harvard MBA's 90 million dollars and say, see what you can do. What do you expect.
Disclaimor: I don't know for a fact they were Harvard MBA's or in their 20's. I do know though John Edwards got paid to advise hedge funds and Chelsea Clinton works for a hedge fund.
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Bear Stearns has been in trouble very a while. The market would have adjusted for it months ago.
I agree hedge funds cause a lot of trouble. I know someone who works for one, and the way he describes it is pretty crazy. Pretty fun job but pretty crazy stuff. 30 or so high powered guys--not so much Harvard MBA's but PhD's in various subjects especially math with some computer programmers and MBA's mixed in all sitting together in a big room hammering stuff out, no offices or cubes or anything. Crazy environment compared to what I'm used to at least.