How hedge funds really work

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Good morning. Back in the day, we used to put something funny on the blog every Friday morning. Then, tragically, we lost our sense of humor.

Well, it’s back! A friend sent us this from Bloomberg columnist Mark Gilbert, in which ‘Hedge Fund Guy Atones for His Subprime Bond Sins’:

Aug. 16 (Bloomberg) -- Dear investor, we’d like to take this opportunity to update you on the recent performance of our hedge fund, Short-Term Capital Mismanagement LLP. As you know, market selection for the entire fund is guided by a proprietary investing tool we like to call ‘a dartboard...’

Click here to read the whole thing.