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Wall StreetSpeak
Again, a letter that no investor wants to receive:October 19th 2009Dear XYZ Employees, Clients and Friends:During this challenging time, I wanted to take a moment to address you directly. As I am sure you understand, I am not able to respond in detail to the charges recently brought against me. But let me be clear: they are, without exception, entirely baseless. I am innocent and will vigorously defend myself and our firm.As I move forward on my defense, I want to assure you that our commitment to our investors and employees will remain unwavering. I will continue to be here working for XYZ, and the firm will continue to serve its clie
RegulationSpeak.... Forty Years Ago!
Fortune Magazine 1969"Probably the hedge funds deserve to be regulated in some way, but whether they should be ravaged is another question. If wealthy, sophisticated investors wish to pay 20 percent of their profits for investment management or, as one dejected investor put it, are "foolish" enough to pay 20 percent-then quite possibly they should be allowed to do so. Anyway...after 1969, not so many will be in that magnanimous a mood. For as every hedge-fund manager knows, without a good product at a good price, you don't get far in the market." Just when you think there is something unique about your "epoch" you realize that the same issues and pro
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