{"id":176000,"date":"2020-10-02T19:09:00","date_gmt":"2020-10-03T00:09:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/10\/02\/quote-of-the-day-5\/"},"modified":"2020-10-02T19:09:00","modified_gmt":"2020-10-03T00:09:00","slug":"quote-of-the-day-5","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/10\/02\/quote-of-the-day-5\/","title":{"rendered":"Quote of the Day"},"content":{"rendered":"<blockquote><p><span style=\"color: blue;\">It\u2019s really not complicated. Most hedge funds are brilliant vehicles designed to make their managers rich. That doesn\u2019t mean they\u2019re doing anything illegal, or maybe even unethical. It\u2019s capitalism. It just means they\u2019re generally a terrible investment, like a new car or a $30,000 handbag. Only with hedge funds, you don\u2019t even get the car or the bag.<\/span><\/p>\n<blockquote><p><span style=\"color: blue;\">\u2014<a href=\"https:\/\/www.marketwatch.com\/story\/new-york-subway-pension-loses-over-300-million-in-collapsed-hedge-fund-11601224350\">Brett Arends at <i>Marketwatch<\/i><\/a><\/span><\/p><\/blockquote>\n<\/blockquote>\n<p>This has been in plain sight for decades.&nbsp; The only mystery us why so many people, and particularly nominally savvy investors, continue to throw their money away.<\/p>\n<p>My theory is that there is corruption involved.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s really not complicated. Most hedge funds are brilliant vehicles designed to make their managers rich. That doesn\u2019t mean they\u2019re doing anything illegal, or maybe even unethical. It\u2019s capitalism. It just means they\u2019re generally a terrible investment, like a new car or a $30,000 handbag. Only with hedge funds, you don\u2019t even get the car &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[368,456,575,464],"class_list":["post-176000","post","type-post","status-publish","format-standard","hentry","tag-corruption","tag-finance","tag-fraud","tag-good-writing"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176000"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=176000"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176000\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=176000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=176000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=176000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}