Today I cleaned up a few grammatical errors that I came across on the Hedge Funds page for Wikipedia. My contribution can be found here, under "Hedge Fund Indices."
"The short lifetimes of many hedgefunds means that there are many new entrants and many departures each year, which raises the problem of “survivorship bias”."
On a side note about Hedge Funds, I'd like to share a little story that involved my Uncle's boss, Steven A. Cohen, the number two earner of hedge funds. The CEO of SAC Capital Advisers is a collector of rare and fine art. Last year he attempted to purchase a $150 million (yes...$150 million) painting from Stephen Wynn (the owner of Wynn hotels and casinos in Las Vegas). As they were discussing the shipment time of the painting, Wynn accidentally hit the painting with his elbow and destroyed the value of it. (Gauguin's "Bathers" painting seen above, circa 1902)
What's the moral of this story? Don't buy a piece of paper with paint on it for $150 million.
"The short lifetimes of many hedgefunds means that there are many new entrants and many departures each year, which raises the problem of “survivorship bias”."
On a side note about Hedge Funds, I'd like to share a little story that involved my Uncle's boss, Steven A. Cohen, the number two earner of hedge funds. The CEO of SAC Capital Advisers is a collector of rare and fine art. Last year he attempted to purchase a $150 million (yes...$150 million) painting from Stephen Wynn (the owner of Wynn hotels and casinos in Las Vegas). As they were discussing the shipment time of the painting, Wynn accidentally hit the painting with his elbow and destroyed the value of it. (Gauguin's "Bathers" painting seen above, circa 1902)
What's the moral of this story? Don't buy a piece of paper with paint on it for $150 million.
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