re: #83 Dread Pirate Ron

I get upset when I lose $20.

The beauty of this is that it’s burning down the people who deserve it. Hedge funds don’t exist just because they can. They exist because they’ve promised people with way more money than sense that they can generate percentage returns annually that can’t be gotten through normal channels, like with your typical broker, or through bonds. And lots of them are closed to the madding crowd, for instance, and lock up investor money for long periods of time, under the philosophy that the market is moody, and the hedge fund can’t successfully operate if people keep pulling their money out every time things look a little dicey. So there are a large number of very wealthy people who are fixing to get badly, badly burned here.