A Quote by Kenneth C. Griffin
It is not my belief that we need greater government regulation of hedge funds with respect to the systemic risk they create.
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When I was 23, 24, I started covering hedge funds - a lot of this was luck - when no one else did. This was before hedge funds were the prettiest girl in school: this was pre-nose job and treadmill for hedge funds, when nobody talked to them - back then, it was just all about insurance companies and money managers.
Hedge funds are other hedge funds' toughest competition. And there are just more of them, and it's tougher and tougher all along.
Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.
Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds, and private equity funds, is an elaborate fraud.
I can't figure out why anyone invests in active management, so asking me about hedge funds is just an extreme version of the same question. Since I think everything is appropriately priced, my advice would be to avoid high fees. So you can forget about hedge funds.
For most Indians in America, wealth is not inherited. Neither do we make it as heads of large hedge funds and private equity funds. For us to make it to the top, we have to use our knowhow to create great new technology products and build high-tech companies.
Insider trading by hedge funds has a long and distinguished history, dating to the days when people didn't know that there was such a thing as a hedge fund.
It's definitely much harder to run a hedge fund today than it used to be, in my opinion. That's because there are more hedge funds to compete with.
Improving oversight of hedge funds and other private funds is vital to their sustainability and to our economy's stability.
I spent my whole career thinking about risk, markets, infrastructure, and regulation. I had seen the financial crisis unfold, and I had seen the credit derivatives market get operationally ahead of itself, which resulted in systemic risk counterparty exposures. I began to believe that distributed ledgers had the capability to tackle that problem.
These 'masters of the universe' must be tamed in the interests of the ordinary families whose jobs and livelihoods are being put at risk. The Tories won't say anything about the current crisis as they are completely in the pockets of the hedge funds.
I think there are probably too many hedge fund managers in the world, as well as active fund managers. The hedge fund industry is very efficient. We see a lot of hedge funds open and a lot close. It's very binary. You either succeed or fail in the hedge fund world. If you succeed, the amount the managers make it beyond most people's wildest dreams of wealth.
Given the typical fee structures of hedge funds, they need to do something different to make money in a consistent way.
Certainly, the job of a U.S. senator is to create a climate conducive to creating jobs, which is lower taxes and less government regulation. What Harry Reid has been doing is putting forward those policies that actually put more regulation on business.
Unfortunately, tools that transfer risk can also increase systemic risk if major counterparties fail to manage their own risk exposures properly.
You can't have bank holding companies acting as hedge funds. You can't have them taking a million-dollar pension plan for Joe Schmo the bus driver and treat it with the same risk appetite that you treat George Soros' pocket money. It's fundamentally ridiculous.
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