#252: Mark Yusko on How we got to QE Infinity from the Fed
The Pomp Podcast
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Hedge Funds
In a zero interest rate world, arbitrage is really hard. So making double digit returns as a hedge fund was child's play. In the old days of investing, it was about access to information,. If you could get information faster, if you can get information that other people didn't have, then you had a huge advantage. But with the advent of bloomberg and other resources, information became ubiquitous. And so all this comes down to the fact that these funds started doing some things that long term capital management did not do in the past. They're trading on basis trading, or convergence trade for a 29 year bond which we know one day will be a 29 year bonds. There's
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