Chekhov's Mistress
How Do You Make a Million Dollars?
Start with Two Million Dollars.
I don’t talk about non-fiction books here much, but this book looks like such a joke that I couldn’t help myself:
From the New York Times (Want to Start a Hedge Fund? First, Read this Book, 12-22-05):
“One manager, identified as ”Ian,“ would grind his teeth at night, according to an advance copy of the book; he shut his hedge fund after only three years, having suffered losses of more than 16 percent.”
Hard to feel bad for the guy. Bet his clients were doing more than grinding their teeth over his losses.
Actually, I don’t have anything against hedge fund managers. Even though there are many opportunists in the field, there are also a lot of smart guys doing it and they are probably stretching the possibilities of financial management. But I think making them into a cultural phenomenon, which is what books like this do, is fairly well obnoxious. Ah, yes, I haven’t read the book and I’m making my statements based on the Times article, but how could I resist, and the point remains the same.
comments
I’m sure the manager’s taking considerable comfort from the 1.5% annual management fee he’s been milking out of the fund, along with not suffering any penalty for the negative returns.
– Pete (12/24 at 02:30 PM)
Page 1 of 1 pages of comments
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About this Post
- Posted by: Bud Parr
- Date: December 23, 2005
- Filed Under:
Wise Men Fish Here: Literature
- Comments:1
- Links to this Post: Technorati
