January is death-to-the-hedge-fund-industry month, according to the popular press. That’s right, folks, you heard it here first: The hedge fund industry, according to the popular press, CNBC, FOX Business, Bloomberg and, of course, the Wall Street Journal and Financial Times have all written the eulogy for he hedge fund industry. “Death to Hedge Funds” is the headline that keeps on giving. It seems that no matter what happens — good performance, bad performance, more regulation, less regulation, inflows of capital or outflows of capital — the industry is dying, according to all of these esteemed media outlets.
In fact, the industry is far from dead. And reports of its demise are about as accurate as predictions of Sarah Palin’s winning the nomination and running against Mrs. Clinton next year. Hedge funds, like them or not, are here to stay. New funds are launching, large funds are growing and investors are demanding products that zig when the markets zag. The recent volatility in the market shows why you need investments that make money regardless of which way the market is moving, and long-only traditional investments can’t do this.
This is an exciting time to be in the industry. There’s a lot going on! Don’t just sit there, get involved. There is much to do!
Operations for Alternatives, the event I cofounded last year, is taking place again February 9 to 11 at PGA National Resort in Palm Beach. This is our third event in just under a year. The sessions are packed full of information on how to operate under the various new regulatory regimes, how to develop a business, how deal with marketing and infrastructure issues and, of course, there is a session on cyber security. There are a few tickets left – go to www.ofa-america.com to learn more and register today. It’s a great way to spend a couple of days out of the cold of the Northeast.
THINGS THAT DRIVE ME CRAZY
Oh, how everyone hates Boston sports teams!
While the jury is still out on what happened with the deflated footballs, it is clear from all the commentary, expert and non-expert alike, how they hate us lovers of the Patriots, Red Sox, Celtics and Bruins. The venom is thick and flows constantly from sportswriters around the nation. It‘s almost funny how much they hate us and of course our teams.
I don’t know why, but I kind of like being despised. I wear my loyalty to Boston with pride. You can kick us as hard as you want but we’ll still be there. Hopefully, the Pats will be hoisting the Lombardi trophy on Sunday. If not, there’s always next year and, be assured, there will be a next year.