November 03, 2006
Hedge Funds Grow By Leaps & Bounds In Kangaroo Land
Now these are the kind of guys I just love. Here we have a certain group called the SEC, which just cannot help but breathe down the necks of hedge fund managers. Just about every time somebody makes some money, they are out there checking for frauds. And if there is a hefty loss as in the case of Amaranth, they have the ‘I-told-you-so’ smug look. Now they should learn from the Australians.
They are not only happy about the growth of the hedge fund industry, they are thinking in terms of hedge fund exports! Way to go boys! As of June 2005, the Australian hedge fund industry was valued at $35 billion, with $22 billion invested directly with hedge funds, and a further $13 billion invested in funds of hedge funds.
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