Thursday, June 28, 2007

We're heading for the US for my family's summer get together. After the outing, R is going to visit his parents and his friends in Indy. He won't return to London till near the middle of the month.

I'm planning a couple of days in the NY area including Mr. Hedgefunds summer party. Then back to Paris for Christine's last weeks there before she goes to Milan.



Blogger bernie play said...

I adore your carefree writing style. Words really FLOW from your ahem, pen or something.

Keep on keeping on.

8:32 PM  
Anonymous Valiant said...

Forgive me, but I have a question: Who are you being honest to? You or Ray?

Where does Mr hedgefunds come in?

This smells like having one's cake and eating it.....and that rarely works.

10:36 AM  
Blogger Kim said...

Val: The invitation was to both R and me. R has decided to partake in the pleasures of a bass boat and campfire with his dad, brother and cousin.

R and Mr. HF have met.

Regarding my attendance. Mr. HF's company is now a client of Kim & Co and I arranged a meeting for him with an individual that he wanted to meet.


3:22 PM  
Anonymous Valiant said...

Then I unreservedly apologize.

This may sound silly, but I genuinely hope you and R make this work. I have read your and enjoyed Blog for a while and I can empathise with a number of the challenges you have faced.

I feared you had lost focus and thought a question was worthwhile. I was wrong and will return to my loft.

Out of interest the CASS business school in London has some very interesting thoughts on Hedge Funds. Having heard from one of their researchers, an ex market maker, I would be very sceptical. While there have been a number of well publicised extraordinarily succesful ones, the level of failure is higher than most people appreciate and on average they return little or no better than anything else. Combine with this the fact that increasing competition means more money chasing less lucrative oportunities and the wild west gold rush that was hedge funds is arguably coming to a close and they will just be part of the mainstream as a component of "alternative" investments. By all means ride the comet, but remember at its core it is just dust and ice and will sooner or later evaporate and crumble.

5:38 PM  
Blogger Kim said...

Val, thanks for the nice thoughts. Notice I said that Mr HF's firm is a client of K&Co, not the reverse.

My view is that hedge funds are a house of cards and we'll see them regularly collapse, like the pair that needed to be bailed out last week by the brokerage that owned them due to bad bets on the sub prime mortgage market.

You won't find any of Kim's money in a hedge fund, even when the manager is cute and a nice guy.

Oh Bernie, thanks for the complement.


7:25 PM  

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