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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Wally Mastroly who wrote (1194)9/24/1998 7:38:00 PM
From: Investor2  Read Replies (2) of 15132
 
Thanks for the link. Did you notice this?

"More than three-quarters of hedge funds recorded losses in August with more than a quarter falling over 10 percent, according to Managed Accounts Reports, a U.S. hedge fund consultancy."

Down 10% in August - am I supposed to feel sorry for that????????? Didn't just about every fund or stock I have lose 10% in August?

RE: "Analysts estimate LTCM, a bond market arbitrageur, held positions totalling $100 billion or more by mid-September, supported by capital of only $500 million. The fund's capital was more than $4.8 billion in June."

Gosh, that's a leverage of about 200-to-1. Is that legal? Doesn't it seem strange that some bank officer would make a loan with leverage like that?

I guess I'm just too old-fashioned. I can't help but think about all of the derogatory remarks I've heard lately about the SE Asian governments not allowing bad companies to fail.

Best wishes,

I2
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