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From Big Bets Come Back to Bite Fund Managers in today’s Heard on the Street section of The Wall Street Journal:
“To wit, a basket of stocks most popular among hedge funds tumbled 19% in September, more than the 9% drop for the Standard & Poor’s 500, according to Goldman Sachs.”
We doubt that early October has been any kinder.
We don’t want to make too much out of a single month’s or single year’s results or a single fund’s misfortunes, but we are wondering: were gains… Read the rest
Tonight, The Wall Street Journal reports that the Fed Will Lend Directly to Corporations. They mean the Federal Reserve will lend to non-financial corporations.
This is the first sensible action that we’ve seen anyone in the federal government take since the financial crisis began. No, we’re quite serious. The President, Congress, the Treasury, the Fed: all disasters: seemingly nervous and clueless but without the good sense to hide either emotion from each other or from the American people.
We’ve argued that the ridiculous… Read the rest
