Institutional Investment Strategy: Reduce, Reuse, Recycle
| Apr 2nd, 2007 | Filed under: Hedge Fund Regulation | By: Alpha Male |
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The investment buzz has come almost full circle
By: Milton Ezrati, Lord Abbett & Co.
Published: April 2, 2007
Milton Ezrati (member of the Portable Alpha Hall of Fame) writes an interesting op/ed today in Investment News. If you subscribe to their email, scroll all the way to the end of it. If you do not, then click here to view the piece via our relationship with InvestmentNews.com.
To summarize, Ezrati says a growing institutional appetite for long exposure (vs. hedge fund exposures) comes at exactly the wrong time in the cycle. In fact, Ezrati says this is exactly what happened in 2002 when institutional investors clamored for hedge funds – convinced markets would continue to flounder. We were wrong then and we may be wrong now.
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