Just wait. According to Marketwatch you don’t get to be a billionaire
hedge-fund manager by giving money back to your investors. So when Louis Bacon,
one of the stars of the industry, with a 20-year track record of making stellar
returns for his investors, decides that the markets are behaving so strangely
even he can’t read them then the rest of us should sit up and take notice.
In deciding to hand back a quarter of the money in his macro
fund — about $2 billion in total — Bacon made a telling point. The euro crisis
has become so complex and so politicized that it is impossible for anyone to
make any money.
But while it’s true that the euro crisis hasn’t yet produced
its George Soros or John Paulson — someone who bets against the herd and wins
big — that doesn’t mean it won’t in due course. In fact, Bacon has got this one
wrong. There will be huge gains to be made by smart investors — but they are
still a couple of years down the track....
Wait…wait…there’s more where that came from at http://www.marketwatch.com/story/fortunes-to-be-made-off-euro-crisis-just-not-yet-2012-08-22
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