Wednesday, September 12, 2007

There is Always Room at the Top

Hedge funds, private equity firms, bulge bracket, these are largely the domains of the well connected, nepotists and cronies. If you weren't born into it, doesn't matter how good you are, they ain't letting you in.

Thus, it feels good when these presumed "champions" suck tail pipe and show that their position is due more to factors outside their control than their actual skill or talent and ability to produce wealth;

Remember, in the long run, old money inevitably gives way to new money because they have no game.
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2 comments:

  1. Anonymous2:12 PM

    "Remember, in the long run, old money inevitably gives way to new money because they have no game."

    What does that mean for the US economy in the long run then?

    Justin

    ReplyDelete
  2. Martin Cooke5:01 PM

    ...mm, what if the old money bought a bunker, and sold lots of weapons to the new money, and the game was surviving global warming?

    ReplyDelete