This is what a young analyst at EverBank had to say about hedge funds after hearing that 2 hedge funds were going to sponsor Tom Cruise’s next movie.
“Hedge funds are the worst plague in capital markets. First they destroy the dynamics of Oil and Natural gas markets. Then it has been Gold and Silver. What’s next?
No wonder hedge funds have not really made money for its investors. It is just a club of people acting out their fancies at the expense of naïve investors money who could use a dollop of common sense….”
If you haven’t done so, you must read When Genius Failed : The Rise and Fall of Long-Term Capital Management