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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Les H who wrote (171278)	6/10/2002 9:21:06 AM
From: Les H	Read Replies (2) of 436258

Are Hedge Funds the Other Shoe to Drop in the Financial Markets? In April, short interest on the New York Stock Exchange reached a record high 6.8 billion shares, up 3% from March. The rise was reportedly driven by hedge funds. But as James Grant (of Grant's Interest Rate Observer) points out, red flags go up when a discount supermarket chain like Carrefour announces it will sell hedge funds in their supermarkets. Such news generates the same cautionary hackles that getting an unsolicited stock tip from the cabby, or your aunt Ellen. The New York Times carried estimates that the number of hedge funds around have reached 6,000 in number and US$563 billion in value, having rose by US$144 billion last year. The TASS database of hedgefunds (http://www.hedgeworld.com/research/) shows a 4.6-fold increase in all hedgefunds between December 1994 and December 2001, to US$261 billion. The notational value of their market exposure is undoubtedly leveraged up by several times or more from this notational value. In fact, in the fourth quarter of 2001, TASS saw the single largest quarterly inflow into hedgefunds since they began tracking hedgefunds in 1994. investavenue.com

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