Saturday 15 March 2014

What is a Hedge Fund?

Quote for the day

"It would seem the difference between investment and speculation is not very clear in the minds of most market participants. At market extremes - after prolonged bullish advances or bearish retreats - the confusion between investment and speculation appears to be universal. . . We have no idea what will happen to the market. . . What is certain, however, is that market participants need to be reminded of Graham's investment / speculation distinction; confusion over the concepts is as widespread as it has ever been." - Dennis Butler