Highbridge Asia hedge fund is restricting investors’ withdrawals.
The fund’s investments are in the toilet so, just like John Paul Tudor Jones, they’re “restructuring”.
Here’s the bit I like:
“The Asia Opportunities Fund is run by Carl Huttenlocher, previously the head trader at Long-Term Capital Management LP, the hedge fund that imploded 10 years ago after a debt default by Russia.”
Was there anyone down on Wall Street who knew what he was doing?
Goldman Sachs and hedge funds are reportedly cutting their commodities traders’ compensation by as much as 75%. That still leaves salaries at $1 to $1.5 million so don’t lose sleep over the traders’ plight but these guys were making as much as $8 million and buying houses to match those incomes. Welcome to Havemeyer,ladies and gentlemen.
The NSA is tracking the cellphone calls of the terrorists who tortured and slaughtered innocents in India. A spokesman for the agency says that they’re retrieving “a treasure trove” of calls made to and from Pakistan and one SIM card seems to have come from the United States. It is precisely this kind of violation of the rights of terrorists that was so soundly condemned by the Demmerkrats and the ACLU, so why are they silent now?
Well why not? everybody’s gotta have an opinion and here’s his. Buy a house now, before it’s too late! Too late, because the world’s going to end, as predicted by my first expert below or because the world isn’t going to end, Wall Street will once again enrich itself and everyone will want to buy a house in Greenwich. Or, you could wait a bit and see.
And over in England, a hedge fund is betting on deflation and buying WW I bonds which, surprisingly, are still paying 3.5% interest 90 years after the Armistice. Britain’s inflation rate is currently 4.5% so these aren’t of much value unless, as this sharpie figures, we’re in for a bout of deflation.