Newsreel: Hedge funds described as “victims”, “easy targets”, but investors and managers remain bullish on 2009
Feb 1st, 2009 | Filed under: AAA Newsreels, Today's Post
In Echoes Of Madoff, Ponzi Cases Proliferate: Apparently, we weren’t the only ones struck by the sudden abundance of alleged Ponzi schemes (see Ponzipalooza). The WSJ notes the same in this story. The question remains, however: Just because you cash out at a fictitious NAV, is it a true Ponzi scheme? (Call us “Ponzi purists” if you want.)
Hedge funds shouldn’t be scapegoat for the crisis: At least one reader of Investment News agreed with the new head of the MFA that “Hedge funds are an easy target, but rather than vilifying them, the government should reach out to them as partners who can help clean up the mess.”
Institutional investors keep allocations to hedge funds: Hold the phone! One of the most important categories of hedge fund investors told Greenwich and SEI pollsters in November that their view of hedge funds had remained unchanged. Said one SEI official, “The silver lining for hedge fund managers is that institutions appear committed to hedge funds as an asset class…”
Hedge Funds, Unhinged: The NYT observes that nearly 2,000 hedge funds actually made money last year (a third of all hedge funds). The paper includes this nifty graphic (click to view original):
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