Hedge fund crooner sings the blues

Country songs aren’t just about losing your dog, your truck and your wife—they’re also about losing your hedge fund.
AUG 16, 2007
By  Bloomberg
Country songs aren’t just about losing your dog, your truck and your wife—they’re also about losing your hedge fund. “I bought a couple mortgaged-backed CDO’s and then the prices took a fall,” sang Merle Hazard, a fictitious manager bemoaning the loss of his fund in a song called “H-E-D-G-E.” The country ditty, which is now on YouTube , is dedicated to “the hard working men and women at trading desks all across America,” but the tune should be familiar to anyone who’s been following the recent series of hedge fund losses. Decked out in a cowboy hat and accompanied by friends manning a digital keyboard, the singer tells the story of a manager whose hedge fund went belly-up after placing bad bets on mortgage securities. “My H-E-D-G-E F-U-N-D went bankrupt today,” he wailed. “Goldman S-A-C-H-S took my fundin’ away.” Jack Ciesielski’s The AAO Weblog, had the original link to the site, hinting that Merle Hazard was the alter-ego of reader Jon Shayne.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound