Signs of Hope
Nov 16th, 2008 | Filed under: Media Coverage of Hedge Funds, Today's Post
With the surfeit of cataclysmic hedge fund news being reported daily, it’s easy to lose perspective. However, Barton Biggs injected some balance into the hedge fund discussion with a piece in Fortune last week. Wrote Biggs:
“In every bear market I have seen, the doomsayers concoct a statistical argument that the glory days for stocks are over, because a flood of selling by brutalized investors is inevitable, and the buyers have no money. This case always seems most compelling close to the end of the declines and is always marked by a wave of media pronouncements.”
Today, we take Biggs’ lead and deliver a newsreel made up entirely of “good news” stories that seem to suggest hedge funds may just survive the financial crisis after all…
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