Saturday, July 08, 2006

Hedge funds: Playing dice with the universe

............In the eight years since the LTCM crisis, with the proportion of income in the developed capitalist democracies remaining heavily skewed toward the upper classes, the concomitant amount of global wealth controlled by hedge funds has grown tremendously. With all of them investing similarly, the risks of the market turning against their positions, resulting in a tremendous destruction of global capital liquidity, have also grown apace.

The result? We are all like hapless ancients, trembling before the gods playing dice on Mount Olympus, knowing that we are powerless to affect the results that will so greatly affect our lives and destinies. As they might have said at Hedgestock:"Bummer!"

for more read... Hedge funds: Playing dice with the universe

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