Quote of the Day.....Hedge Funds & Private (Pirate) Equity

this quote sums it up......thanks to Hussman (click headline)

ein treffender kommentar....dank geht an hussman (überschrift klicken)

Smartest comments of the week: Ray Dalio of Bridgewater Associates, who manages about $160 billion in assets for clients including central banks and foreign governments, quoted in Barron's

"Hedge funds and private-equity firms today are like the dot-coms in 2000: Ask for money and you'll get it. They bid up the prices of everything. The amount of money flowing is almost out of control, and it's making everything overvalued. A client of mine said it's like there are 11,000 planes in the sky and only 100 good pilots -- an accident is bound to happen. Just like the dot-com bust, the winners and losers will be sorted out but the technological advances won't stop. There is a greater differentiation of managers now than ever before. ”

thanks to Rodger Rafter for the term "Pirate Equity" :-) http://rebalancing.blogspot.com/