“Running of the Hedgehogs”: Like Pamplona, but without the nasty gorings
Apr 12th, 2007 | Filed under: Hedge Fund Industry TrendsThe glossy pages of the venerable New York Magazine isn’t the first place you’d expect to find a comprehensive survey of the hedge fund industry. But nestled between a story about a serial murder selling his kidney (”Tainted Kidney”), a revealing piece on exhibitionism in the Big Apple, and the ramblings of a Mister “James J. Cramer” lays an interesting set of articles on the New York hedge fund scene.
The lead article, “Running of the Hedgehogs”, is an introduction to the industry that spares us from some of the usual fear mongering and populist drivel the mainstream media often dishes out on the subject. In fact, the magazine addresses this phenomenon head-on:
“The New York Times decided years ago to incessantly refer to hedge funds’ use of these instruments as ‘exotic and risky,’ thereby adding to their aura of mystery. The funny thing: Practically all financial institutions use these exotic instruments.”
The article also goes on to challenge other popular misconceptions such as the belief that hedge funds are all the same. More…
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