Percy on N.C. Hedgie John Edwards
I respect my fellow North Carolinian John Edwards' decision to work at Fortress Investment Group between presidential runs, but give me a break:
Democratic presidential candidate John Edwards said Tuesday that he worked for a hedge fund to learn more about financial markets and their relationship to poverty in the United States.I can honestly say that in all of my years of managing money I've learned nothing at all about poverty. I suspect the gang at Fortress doesn't know too much about the subject, either.
By the way, media, please stop referring to investment management firms — particularly ones that predominantly manage private equity funds — as "hedge funds." Nobody actually works for a hedge fund.
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