May 29, 2016
It may be the end of hedge funds as we know it
The thing is, the closure of many hedge funds may end up being a good thing for managers in the long run. Not for all managers, obviously, but for those that can make it through the tough times.
I absolutely agree. This is similar to what happened when the automobile was first introduced. The closure of many horse stables ended up being a good thing for horse stable managers in the long run. Not for all horse stable managers, obviously, but for those who made it through the rough times.
Were you aware that the average horse stable manager today makes up to 500 times what the average corporate CEO makes? It's absolutely true. In 2013, the average horse stable manager earned $33,000.
You think I was being deceptive with my "up to 500 times" claim? What? I beg to disagree. This is a common and accepted practice in America.
It is no different than an "up to 75% off everything in the store" sale. Nobody expects everything in the store to be 75% off. It simply means that nothing in the store is more than 75% off. It's just the store's way of warning shoppers that the bargains will be capped. It seems to work. Shoppers seem to appreciate the honesty. ;)
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