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Harry Macklowe Takes a Bath   Extra Credit, Weekend Edition
Feb 1 2008 5:43PM EST

How Google is Like a Hedge Fund

Big stand-alone hedge funds generally did well in 2007; hedge funds owned by investment banks, by contrast, did much worse. I can't help but see an analogy here: Microsoft is bringing Yahoo in-house, to compete with the big stand-alone Google. But internet advertising is not what Microsoft is good at, just like hedge funds are not what Bear Stearns is good at.

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