Re: [Pen-l] Hedge funds, speculation and capitalism

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] Hedge funds, speculation and capitalism
From: Doug Henwood <dhenwood@xxxxxxxxx>
Date: Wed, 16 Jul 2008 15:58:30 -0400


On Jul 15, 2008, at 6:50 PM, Sabri Oncu wrote:

Or for that large pool of dumb money called pension funds who, I believe, are large passive investors in private equity and hedge funds.. -raghu.
I don't think pension fund money is dumb. They are managing our money!
So, who is the dumb, here?


Ha. I have no pension!

I don't think they're "dumb." As a group, they're the market, and therefore they slightly underperform the averages. As I recall, individual investors are lucky to do half the averages.

Doug
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References:
- [Pen-l] Hedge funds, speculation and capitalism
  - From: Sabri Oncu

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- Re: [Pen-l] Hedge funds, speculation and capitalism, (continued)
- [Pen-l] Andrei Shleifer, Billionaire?, Michael Perelman Mon 14 Jul 2008, 16:25 GMT
  - Re: [Pen-l] Andrei Shleifer, Billionaire?, Jim Devine Mon 14 Jul 2008, 17:30 GMT
    - RE: [Pen-l] Andrei Shleifer, Billionaire?, Perelman, Michael Mon 14 Jul 2008, 18:41 GMT
      
      Re: [Pen-l] Andrei Shleifer, Billionaire?, Jim Devine Mon 14 Jul 2008, 18:51 GMT

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