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December 26, 2007

Three Quotes About Long/Short Funds

Three brief quotes about long/short funds, one of which I read today, and the other two that immediately came to find upon reading a longer piece about the troubles said funds have had this past year:

Historical relationships that hold true 90% of the time have gone completely haywire this year.

-- Gary Benstead (in today's WSJ)

If past history was all there was to the game, the richest people would be librarians.

-- Warren Buffett

Long/short funds are complex financial products equally adept at losing money in up and down markets.

-- Anonymous

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