Kinja reply list

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MontoviroHamilton Nolan
8/03/16 4:48pm
I’ve never understood, regarding hedge funds, why people pay more for less (on a risk-adjusted basis).

It’s really not capitalism, is it? More like magical thinking, or corruption.
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  Quasar FunkMontoviro
  8/03/16 4:53pm
  It’s really not capitalism, is it? More like magical thinking, or corruption.
  
  I don’t really see a difference.
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  MontoviroQuasar Funk
  8/03/16 4:59pm
  There’s also very little difference between socialism and magicial thinking or corruption. To what can we attribute the deviations from both of these economic systems’ ideals?
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KyuzoHamilton Nolan
8/03/16 4:56pm
Guys, ABC News is reporting that the GOP is making contingency plans for Trump dropping out of the race:

http://abcnews.go.com/Politics/senio…
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  ╰(　´◔　ω　◔ `)╯< Woke and BokeKyuzo
  8/03/16 5:05pm
  That’s literally impossible and not how things work.
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  MontoviroKyuzo
  8/03/16 5:09pm
  I’d hedge my bet on that one.
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ReburnsABurningReturnsHamilton Nolan
8/03/16 4:56pm
Well, that’s all well and good, provided that they learn the bigger lesson here, which is that trying to outsmart markets when you need stable long term returns is dumb.

I mean, if hedge funds filled with fucking top of their class at Harvard nerds can’t beat the market, then a pension fund filled with a bunch of not top of their class at Harvard nerds might do even worse.
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  LPSheaReburnsABurningReturns
  8/03/16 5:09pm
  Seems like the hedge funds have 2 choices. Either cut fees or increase illegal kickbacks to the pension fund managers. Wonder which one they’ll choose?
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  ReburnsABurningReturnsLPShea
  8/03/16 5:21pm
  I think you’re already seeing some of them “tier” their fees more based on performance.
  
  Getting away with illegal kickbacks on a meaningful enough scale in the U.S. to stem a potentially large wave of divestment probably isn’t viable.
  
  Some individual fund managers might get away with it, but as a broad based practice ... I’m skeptical that it wouldn’t wind up kicking up a big shitstorm of media coverage because of how easily stuff like that can leak.
  
  I also think a portion of this divestment is probably coming as a result of state lawmakers and executives sitting down the pension fund managers and heavily implying that their mandate is “Divest or else ...”, so I’m not sure that pension fund managers will budge quite so easily as they may have in an era where state lawmakers didn’t really care what they did so long as they could make the future accounting look somewhat manageable and keep paying current benefits.
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IAMBlastedBiggsLostBurnerHamilton Nolan
8/03/16 4:46pm
Eh, it's okay. I'm sure at this very moment, some 'smart', 'hard working' financial 'experts' are cooking up some grand, complicated ways to move numbers from one column to another to replace the failing hedge funds. Hell, the main reason the concept of 'investment' exists anymore is to pad the coffers of those who can truly reap the benefits of them. The rest is just some smoke and mirrors designed to make the rest of us suckers think we're actually sacrificing for a greater end down the road.
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  Quasar FunkIAMBlastedBiggsLostBurner
  8/03/16 4:49pm
  
  GIF
  
  .
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  ╰(　´◔　ω　◔ `)╯< Woke and BokeIAMBlastedBiggsLostBurner
  8/03/16 4:52pm
  You mean private equity funds? I, for one, welcome our new (same as the old) corporate overlords.
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YouSmellFunnyHamilton Nolan
8/03/16 4:42pm
What is pen..shun?
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  steinoYouSmellFunny
  8/03/16 4:48pm
  All I know is you can’t spell “pension” without “Penis On”.
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  tornadoslackssYouSmellFunny
  8/03/16 4:50pm
  What is re-tired-ment? Is that when you keep going until you fall over dead at work?
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DirktaniusHamilton Nolan
8/03/16 5:13pm
Millions of Americans also participate in bullshit pyramid schemes buying magic pills and gluten free makeup.
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  AM123Dirktanius
  8/04/16 9:36am
  Wait, what does the fact that Americans are gullible fools who are willing to sink their money into any old scam have to do with pension funds being bad investments? Everyone knows hedge fund managers are bribing the pension fund folks, and when that doesn’t work, physically holding a gun to their head to make them invest....
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  DirktaniusAM123
  8/04/16 9:48am
  I meant to reply to a comment about how Americans can be so dumb and it ended up being a comment on the article. I don’t think Kinja allows you to delete comments completely so I just left it.
  
  I realize it doesn’t make much sense in the context of the article.
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Sparky PolastryHamilton Nolan
8/03/16 4:49pm
And let us prepare for the imminent introduction of the hybrid fund - a mutual fund/etf/hedge fund combo with such convoluted language and pricing nobody is the wiser! Sign me up!
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  MontoviroSparky Polastry
  8/03/16 5:12pm
  Somewhere there’s a summer intern copying and pasting.
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Ed SpockHamilton Nolan
8/03/16 4:54pm
I do take comfort in the fact that, if NJ’s pension fund takes such a huge hit that they have to reduce the amount each retiree receives, that Chris Christie will be right there demanding that any pension he receives be slashed by an equal, if not greater, amount because, as a responsible leader, he is willing to share in the sacrifice of all the hard working men and women of the state.
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Sid and FinancyHamilton Nolan
8/03/16 5:05pm
This rapacious monster has been sucking the lifeblood out of the good people of New Jersey to feed its insatiable appetite for too long.

I’m speaking, of course, of New Jersey Governor Chris Christie.
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