October 26, 2008

A Dinocrat Rarity

A bad post.

Iirc Yahoo! Finance was flogging this "issue" a few days ago. The linked Bloomberg article is terrible too. Then again, 'Hedge Funds Experience Redemptions Despite Outperformance' would be a less gripping headline than 'Hedge Fund Withdrawals Stress Market; Citadel Reassures Clients'.

It opens with:
Oct. 25 (Bloomberg) -- Hedge funds are aggravating the worst market selloff in 50 years as they dump assets to meet investor redemptions and keep lenders at bay.
Aggravating a selloff...tsk, tsk, naughty, naughty. Record mutual fund redemptions...not mentioned.

"With the average hedge fund down 18 percent this year", you'd think that Bloomberg would add that the typical mutual fund is down about twice that, as is the S&P 500. Bloomberg doesn't.

I hope that the Bloomberg article is merely slovenly reportage and not the kind of agenda-driven "journalism" that is so flagrant this election year.

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