It’s always worth stressing that “billionaire” as a descriptor of “hedge fund investor” is common precisely because the billionaires in the space are so uncommon. Put another way, we hear a lot about the microscopically few hedge-fund billionaires, but rarely about the 99.99% of the would-be billionaires in the space who never reach such hallowed ground.
In a recent column for the Washington Post, Adam Lashinsky confidently asserted that “Borrowers will look back fondly on the era of low interest rates the way middle-aged people consider their youth: It was good while it lasted, but it’s not coming back.” Macro hedge fund managers who are also billionaires would give anything for even a fraction of Lashinsky’s certitude expressed from the sidelines.
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