Last year, two dozen hedge fund managers collected a total of $25 billion in fees. They did this by using money from pension funds and very rich individuals to make bets on various securities, taking 20 percent of any profits generated by these bets, and two percent of invested capital even if these investments lost money. Don't you wish you had a gig like that?
A Prayer To Become
A Hedge Fund Manager
God of markets, pretty please,
Let me tap those hedge fund fees;
Take two points right off the top,
Even if my choices flop;
A fifth of profits, get that, too,
From any profits that accrue.
As long as rich folks seek a seer,
I'd make a billion bucks each year;
They got theirs, so how 'bout me?
The justice here you surely see;
With your help, I'll hedge fund find,
And chump change living leave behind.
(Amen)
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©2010 Michael Silverstein
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