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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: Kevin Podsiadlik who wrote (92273)	8/18/2005 6:34:51 PM
From: rrufff	Read Replies (1) \| Respond to of 122087

Geez - ok. People don't like it when we get repetitive, but if you are going to put words in my mouth, let's try it again. I don't agree with everything that Byrne says. I have not studied O enough to really give an opinion on its fundamental value and the reasons why the shares have moved down. That's not the issue with which I am concerned. I do admire him and am glad he is here to bring this issue up. I DO believe that there are scamming hedge funds, but not ALL hedgies are manipulators. The stated purpose of making money for their investors does not seem to mesh with the results of the industry as a whole. Look back a few 100 posts and you will see that results after fees have not enriched investors significantly more than mutual funds, nor of the proverbial dart thrower. Funny, I'd think a "good, honest" hedge fund would have a second purpose (even if you consider it secondary), that being to enrich its investors. As for the "lawyer joke," the standard response is that everyone hates lawyers unless you are in trouble or want to marry one. I've often posted my criticism of class action lawyers here. Yet, that doesn't mean I believe that 99% of lawyers are crooks. The ones I know in the real people world are extremely hard working, making less money than most believe, doing "pro bono" in greater degree than almost any other profession, etc. The similarities in all of this may be that the system is broken. The legal system is extremely inefficient and geared to "boiler plate" performance. The class action and bankruptcy players milk this to get the maximum fee per real hour worked. The same might be said in a way with corporate management and with hedgies. There are honest people in both fields. Yet, the system is broken. Do you really think that the BOD and management considers that it works for shareholders? In fact, we shareholders now act as if the opposite is true, rarely objecting or giving more than a passing glance to huge payments and packages given to managements that are often mediocre at best. As for hedgies, there is a need for unregulated investment funds. However, the issues brought up by Byrne and others are serious, not to be dismissed as opinions merely of a kook or a crook. That's the real intent of the criticism directed to Byrne and others who raise these issues, it seems.