The best hedge fund manager of 2010, Don Brownstein, believes FinReg will eventually be a “minor footnote.”
Asked by Clusterstock’s Katya Wachtel what he thought about financial regulation today at an event hosted by Bloomberg Markets Magazine, he smiles and says:
Say there’s lots of car crashes on a particular corner. And they put up a traffic light. That’s what this is.
It’s not a big deal. It will be a minor footnote. It’s one traffic light.
Not a big deal?! Try telling that to Jamie Dimon.
But of course, Brownstein got to #1 last year in part because he doesn’t have to deal with financial regulation. Hedge funds are unregulated. If anything, stricter regulations on banks helps them.
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