Warren Buffett is known for his quote, “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful.” It has been cited so many times by so many people that you would think its underlying logic would be ingrained into the U.S. investors’ psyche but markets are irrational because people are irrational
When a story comes out that is so slanted, so obviously part of an agenda — it is hard to know where to begin in responding to it. First off, let’s point out the obvious, Bloomberg Magazine appears to have reached a conclusion before this story was written.
In what only can be described as an act of supreme chutzpah or proof that Chang had become completely separated from reality; he then sent out a marketing letter to brokers encouraging them to raise assets for ACE.
The problem is not with managed futures, which have posted great returns, even (especially) during stock market meltdowns, but with the financial industry that wraps these otherwise useful products in a high fee wrapper