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  • Hedge fund Everest Capital falls off a Swiss cliff

    From cnbc.com

    A single bad currency bet has caused one of the largest and longest-standing private investors in emerging markets to collapse. Everest Capital—a 25-year-old hedge fund firm that counted George Soros and Nelson Peltz as early backers and has ties to Condoleezza Rice and Robert Gates—is closing six of its seven remaining hedge funds, according to a private letter sent to investors Feb. 24. The move comes after its largest fund, Everest Capital Global, suffered crippling losses in January and was shut down. Everest, which overall managed more than $3 billion at the end of December, had bets on the Swiss franc that ... (full story)

Stunning mismanagement.
"burning many investors".... what a Joke ! SNB move was predicted by some people. Why those guys were so SF dependant ??
I will never put a dime in an hedge fund .
It frankly boggles the mind ... . Hundreds of millions of dollars, no doubt up in smoke in a matter of hours, if not minutes ... . Highly paid, "professional" hedge fund managers ... .
It has never made any sense to me why anyone who had the skills and abilities in their core business to make many millions of dollars would then entrust those millions of dollars to another person for investment purposes in areas that the investor has no skills in.

The very idea boggles the mind!

IF you are good enough to make serious cash, how could any other person do better than you with your money in other fields?

5-20% a year growth is acceptable? NO WAY!!!!! NO ONE ever got rich making 5-20% a year!!!

The self-made business proprietor started out with $5,000-$200,000 in a business, and he turned that over 10-20 years into $5,000,000-$200,000,000. He/she did this under their own steam, with their own skills.....and they made that initial capital "Rock and Rolla".

And then some suit calling himself a Hedge Fund claiming he has skills better than THAT rate of return.

The human animal world is truly made up of morons who could believe this.
Quoting dancingphil
It has never made any sense to me why anyone who had the skills and abilities in their core business to make many millions of dollars would then entrust those millions of dollars to another person for investment purposes in areas that the investor has no skills in.

The very idea boggles the mind!

IF you are good enough to make serious cash, how could any other person do better than you with your money in other fields?

5-20% a year growth is acceptable? NO WAY!!!!! NO ONE ever got rich making 5-20% a year!!!

The self-made business proprietor...
+1
Quoting dancingphil
It has never made any sense to me why anyone who had the skills and abilities in their core business to make many millions of dollars would then entrust those millions of dollars to another person for investment purposes in areas that the investor has no skills in.

The very idea boggles the mind!

IF you are good enough to make serious cash, how could any other person do better than you with your money in other fields?

5-20% a year growth is acceptable? NO WAY!!!!! NO ONE ever got rich making 5-20% a year!!!

The self-made business proprietor...
+2
Quoting dancingphil
It has never made any sense to me why anyone who had the skills and abilities in their core business to make many millions of dollars would then entrust those millions of dollars to another person for investment purposes in areas that the investor has no skills in.

The very idea boggles the mind!

IF you are good enough to make serious cash, how could any other person do better than you with your money in other fields?

5-20% a year growth is acceptable? NO WAY!!!!! NO ONE ever got rich making 5-20% a year!!!

The self-made business proprietor...
Probably has to do with greed. They want to earn a return on their millions instead of just leave it there. Then they look at all these funds has a safe return with no loss or what so ever(isin't that how all the fund work they show all these nice return the fund got years after years). So they guess the risk of losing money is not likely since they got a great traders who has a good record.
Yet 5-20% per year is of zero appeal to me.

The problem with building a very large and successful business is the "Law of Large Numbers", which means that sooner or later you exhaust the market potential of the business you are in.....for it to just continue growing forever.

And most very successful business people therefore then expand into other industries and fuck that up entirely; because they actually had no skill in the second industry.

Which is why I love Forex trading so much.

The "Law of Large Numbers" still applies, but it applies on a massively large scale....it is very difficult for one trader to get so large that Forex is too big for them to trade in.

But Hedge Funds? They suck dead dog's dicks.
Exactly to prove my point that people - however smart they are - they eventually put their money in the hands of suite-dressed shmucks that waive their diploma and shiny teeth.

As dancingphil mentioned - how mind messing is the money when people can create business for millions and then put it in the hands of the crooks photographed above. And I bet those got their fat annual bonuses despite the fund cracking.
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  • Posted: Mar 16, 2015 1:20pm
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     Newsstand
    Category: Entertainment News
    Comments: 9  /  Views: 3,492