Jozef Imrich, name worthy of Kafka, has his finger on the pulse of any irony of interest and shares his findings to keep you in-the-know with the savviest trend setters and infomaniacs.
''I want to stay as close to the edge as I can without going over. Out on the edge you see all kinds of things you can't see from the center.''
Private jets expensed using hedge fund fees Financial Times (Li). This is really really bad, although common. Basically, just about no one who flies on private jets in the US pays for them themselves. It’s either a corporate expense, or fund managers find a way to charge them to investors. Private equity guys do this routinely, but in most cases, they’ve actually written their limited partnership agreements to allow for that (so that means shame on the investors for not putting in some curbs). By contrast, hedgies sit at Bloomberg terminals. There’s no justification (unless you are talking perhaps a distressed investing fund or short fund where they might want to go do serious due diligence in some oddball locations, but even then it is an awfully big stretch) for the use of private jets.