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

Maryland bars advisor over charging excessive fees to clients
Maryland bars advisor over charging excessive fees to clients

Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.

Wave of SEC appointments signals regulatory shift with implications for financial advisors
Wave of SEC appointments signals regulatory shift with implications for financial advisors

Reshuffle provides strong indication of where the regulator's priorities now lie.

US insurers want to take a larger slice of the retirement market through the RIA channel
US insurers want to take a larger slice of the retirement market through the RIA channel

Goldman Sachs Asset Management report reveals sharpened focus on annuities.

Why DA Davidson's wealth vice chairman still follows his dad's investment advice
Why DA Davidson's wealth vice chairman still follows his dad's investment advice

Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.

401(k) participants seek advice, but few turn to financial advisors
401(k) participants seek advice, but few turn to financial advisors

Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave