On-The-Job Training!

On Oct. 25th I posted about Refco and quoted The Faulking Truth

In our opinion, REFCO is not the tip of the iceberg in this issue, it’s nothing more than an ice cube floating in a sea of icebergs.

I have also posted that there is not enough portfiolio management talent for 8000+ hedge funds. Financial Director in Lack of hedge fund talent risks another Refco

Experts have warned that firms are finding it difficult to recruit staff capable of coping with the demands of assurance and advisory work around the funds, posing a substantial risk to investors and hedge fund managers.

In addition,

Amin Rajan, CEO of research firm Create, which has worked extensively with KPMG on hedge fund research, said that, because the funds used such intricate techniques, it was difficult to recruit individuals with the required ability.‘There is a huge shortage of skills. There are not enough people out there who understand how the investment vehicles are used,’ Rajan said. ‘Skills will only develop as demand grows.’

Great! That’s like putting trainees in charge of a Nuclear Power Plant and giving them on-the-job training!

Refco hedge funds
mover mike

One Response to “On-The-Job Training!”

  1. Here is a wild proposition:

    The ability of hedge funds to extract gains from non-hedgers diminishes as the ratio of funds committed to hedges relative to funds committed to non-hedged investments increases.

    The proof:

    When everybody only invests in hedge funds then they have no one else to game.

    I wonder if the early hedge fund operators could sell out and then game the novice, late-entrant hedge fund operators? Some state treasurers might be game.

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