Photo: screen shot from you tube
Hugh Hendry wrote an article in the Telegraph explaining why you shouldn’t hate the hedge fund industry so much.It begins:
You don’t know me; we’ve never met. But I fear you are being encouraged to dislike me. Let me explain: I’m a speculator. I manage a hedge fund. Apparently I profit from your misery. Accordingly, our political leaders are keen to see the back of me.
The whole piece reads a little Ayn Randian like, “damn it feels good to be a capitalist.”
It’s just interesting to see coming from Hendry, a smug one who usually acts like he doesn’t give a damn bout what people think of him, an explanation about his business, hedge funds, so that everyone won’t hate him.
- “We need to stop this socialisation of risk taking: heads I win, tails you lose.”
- “I have to correct another misconception. I am not guaranteed success; far from it.”
- “Through our endeavours, hedge funds attempt to discover the identity and inadequacies of the poor businesses.”
- “I would call the bankers’ bluff and seek to purge the rottenness out of the system. All of us will work harder, prices will adjust, and enterprising people will flourish.”
- “Most importantly, we are on your side.”
Read Hendry’s full post on The Telegraph.