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How Hedge Fund Managers Apologize

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Aug 16 2007 12:00am EDT

How Hedge Fund Managers Apologize

I know I'm meant to be on holiday, but this is just genius and I had to share it: Paul Kedrosky has shoved 3,085 words of hedge fund manager non-apology apologies into Microsoft Word's Auto-Summarize feature and boiled them down to two sentences.

To that end, we’ve already seen increased client demand for our aggressive market-neutral equity fund. From speaking with our colleagues and large allocators in the market-neutral space, we understand that many market-neutral funds have suffered 5-to-15% losses so far in August.

It's hedgies in a nutshell. There's no such thing as a meltdown, just a buying opportunity! And it's not us, it's everyone!

Has any hedge fund manager, ever, written a letter to investors simply saying "I'm sorry, I got it wrong, and I lost your money"?

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