peHUB Second Opinion 2.24.08
One Columnist Responds to Andrew Lahde: John Gapper of the FT says, In personality terms, however, you display all the unpleasant characteristics of a class of people who got lucky over the past decade on cheap credit.... Santa Monica, the Californian city where you live and used to work, has a pier jutting out into the Pacific Ocean. Why don't you go out and jump off it? Michael Lewis: In which a hedge fund manager tries to short himself. When?: The predicted timeline for the end of this thing just keeps getting longer and longer. Today Marty Lipton suggests three to five years, while Joseph Rice of CD&R optimistically predicted that buyouts will stick around and leverage will come back. Another Nail In The Coffin: Abnormal Returns writes that hedge funds can't even be considered a proper asset class: "Hedge funds are an aggregation of all manner of investment strategies. Trying to mold a coherent case for them as an asset class is difficult at best."
