More Money than God
This is a guest post from an anonymous friend. Actually is was a letter to me that I thought was hilarious and got permission to post.
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Dear Cathy,
Earlier I mentioned that I was reading “More Money than God”, which might have been construed as an endorsement, so, in case you haven’t read it already, I thought I would save you some time by summarizing it:
Chapter {2,\ldots,(N-2)}: All the hedge fund dudes you have heard of are* sages both of human nature and of economics. When they destroy foreign currencies, it’s to correct bad governments. When they attempt to short foreign currencies but fail, it’s because they (Soros) care deeply about these developing countries and are using their money to help support them. They are huge philanthropists. They increase economic stability by being contrarian. The only time they are outsmarted is when they are outsmarted by other hedge fund titans.
Chapter N: Don’t regulate hedge funds. Regulating hedge funds would be bad for the economy and for philanthropy. There’s no need for hedge funds to be regulated. Regulate the banks or something else but for God’s sake not hedge funds. Also: no regulation!
Acknowledgments: thanks to Rubin and all my other buddies at CFR, and at Blackstone, and to Paul Tudor Jones, and all the other hedge fundies who supported me while I wrote this book for 3 years.
* They are now, but in the 60s when hedge funds started the whole “hedging” and “long-short” thing was just a distraction from organized insider trading over corned-beef sandwiches. But no one ever insider trades anymore. Except for Raj, who’s clearly not a real hedge fund guy. Who eats SIM cards? We’re not those kind of thugs.
mathbabe 
Written by a mathematician, I guess (mostly because s/he uses TeX in a way that math person would use it).
That would be funny because mathematicians also think they are the smartest people on the planet…
I’m not saying either group is wrong; I’m a former mathematician who works in a HF… 🙂
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