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Pastimes : JESUS and FINANCIAL FREEDOM

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To: yard_man who wrote (1074)	10/16/1998 11:04:00 AM
From: gregor	Read Replies (1) of 1283

Thank you for the article. One point I would like to make is that the hedge funds as a whole are a zero sum game if they are leveraging to the extent I think they are in options , futures, forward contracts in currency ect. A gain is offset by a loss in another firm. They do not create wealth, they do not produce, they do not contribute to the economy unless you call exaggerating normal market swings contributing. I cannot believe that LTCM thought the spread between Treasuries and Junk Bonds would narrow, with the flight to quality and all. We are much smarter than that !!!! Why aren't we paid millions ? In Christ .gregor

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