Thursday, August 26, 2010
I know a lot about hedges, as I had hedges around my home when I was young. Frankly, they were a pain in the neck. We had to trim them on a weekly basis, a task often relegated to yours truly. Back then, of course, there were no power clippers. We had to do it by hand, with a huge scissor-shaped clipper. I wanted to play with my friends but there I was, cutting hedges. I tried the Tom Sawyer thing but all of my friends had read Tom Sawyer and weren't persuaded.
Now, of course, you can get an electric trimmer and it's quite a bit easier. But you still have to clean up the hedges after they're cut, and that's not my idea of a good way to spend a summer day. Of course, I understand those who run hedge funds are very wealthy, so they probably just have a gardener do it for them. This notwithstanding, it still seems like extra work.
So I'm afraid I'll have to take a firm position against hedge funds. Despite whatever profits they may produce, there's really not much benefit to having hedges. Personally, I don't understand why anyone would want to fund them. If you see things differently, of course, please feel free to enlighten me.
In the coming weeks, I'll try to provide other teacher viewpoints about hedge funds in these pages. Since hedge fund magnates have offered so much advice about our field, the least we can do is return the favor. Please feel free to offer hedge fund magnates the benefit of your experience in the comments.