Monday, August 27, 2007

Ah yes, The Hedge Fund Regatta

How about that late Saturday night post below...a vintage poster from a far away time when our government took it upon itself to warn its sailors to beware the clap (with which you can't beat the Axis). Ah, those innocent days. And yes Carole Ann...she does look somewhat like the Mona Lisa...which raises all sorts of other questions.

The New Yorker - ever erudite - rarely covers sailing. But in the September 3 issue under the "Capitalism Department" there's a write-up on the "Hedge Fund Regatta." Hedge funds seem to be suffering by the hour these days...at least in the press. But their managers have still found time to show off yacht-style at their own little sailing get together based out of a marina in Battery Park City..convenient, of course, to Wall Street. As for rational...look no further than the below quote. In fact, you may want to look no further than the end of this sentence if you sicken easily.

Dalton, who learned to sail as a boy at the Jersey Shore, said that many of his hedge-fund clients were handy with a mainsheet. “Sailing a boat is very competitive, and obviously managing money is all about competition and performance,” he said. “And it takes a lot of money to have a big boat.”

4 comments:

Tillerman said...

Ugh. Financial managers and sailing! Don't get me going.

Bunty said...

Love the poster. Goes back to the days of the saying 'a sailor has a girl in every port'!

Carol Anne said...

Interesting that it's not until the second-to-last paragraph that somebody says, "It's about raising money for kids to go sailing."

Hedge Fund news said...

I like the news, even know I have just read the news now, I became interested to know what is a Hedge fund and what it really means.