Friday, August 17, 2007

Should you say "sorry"?

"Running a hedge fund means never having to say you're sorry," writes Wall Street Journal reporter Gregory Zuckerman in "Dear Investors, We're...: Hedge Funds Strain to Find Words to Say 'Sorry' for Your Losses" (August 16, pp. C1-2). They're not apologizing for their poor performance. Not even with the sharp declines they've experienced recently.

"Instead, in letters to clients, they point fingers at other hedge funds, once-in-a-lifetime events and their own computer problems."

That's a good thing, according to attorneys who say apologies could make managers vulnerable to law suits.

Would YOU apologize for poor investment performance?


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