"History is a wonderful thing, if only it was true"
-Tolstoy

Sunday, August 19, 2007

Sorta Sums it up

Sorry - link goes to pay per view Times piece...

Markets Quake, and a ‘Neutral’ Strategy Slips - New York Times:

"“We have to atone to our clients, but we have no right to whine for ourselves,” said Clifford Asness, the co-founder of AQR Capital Management, a money management firm that has been much in the news recently. “When we succeed, we make a boatload of money, we get imitators, and our risk increases. That’s how capitalism works.”"

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