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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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