FT Alphaville leads with a link as the jumping off point to a deeper question:
Tim Hartford directs us to a nice piece by John Cassidy in the New Yorker this week wondering why it is that hedge funds can still get away with making a killing when their performance is so underwhelming these days.
It is, in his opinion, a bit of a mystery....MORE
While, at Bloomberg:
...Lehman is still around.
Meanwhile
in actual financial-crisis related stuff, you can still trade Lehman
Brothers bankruptcy claims, which have made a lot of money for a lot of
hedge funds, including over $1 billion for John Paulson. The losers seem
to have been the big banks who were Lehman's counterparties and sold
their claims early to hedge funds, so if you squint you can view these
returns as the reward to these hedge funds for stabilizing the financial
system in 2008...MORE
So there you go
.
