Those who rushed to save the system when they saw it imploding focus on tools to rescue when it happens again, pay lip service to prevention , They benefit from the same system including the "shadow banking" they like to warn about.

A new threshold. Today the 2000th hard copy of this very self published book was sold. Thank you all.

Comprehensive coverage of a fascinating story which sounds awfully familiar

Why are PE funds allowed to aggressively pitch this way?

"We have outperformed public markets by 8.7% on average per year since 1989"

40 pages later in extremely small print

"No investor.. invested.. in a manner to [receive] the returns"

@PELaidBare @verdadcap @Brad_Case

I love this argument. HFs underperform overall but provide a public good -- all great then. BUT if so, government should refund the few pension funds who paid the bill for this public service. Should the government also waive taxes for HF managers to thank them? Unless ...

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