Re: Hedge Funds- the good, the bad, the ugly

[Timothy Morge <tmorge@xxxxxxxxxxxxxxx>]

Let me correct a sentence in the last post, or it will make no sense.


Timothy Morge wrote:
In practice, I assure you that the people that overlook a bank's risk area finds
out about the incredibly stupid overuse and abuse of leverage by the fund
managers.

The sentence should have read:

In practice, I assure you that the people that are overseeing the use of the
bank's risk allocations only find out about the incredibly stupid overuse and
abuse of leverage by fund managers when there is a problem.


Tim Morge