Getting Shorties for New York Magazine
For those who are about as poorly versed as I am with the vernacular of hedge funds, brokerage firms and the language of modern finance, I learned this week that hedge funds don’t get along so well with big firms like Bear Sterns (R.I.P) and Lehman Brothers. This is primarily because hedge funds (which are smaller and in some respects quicker than the big guys) contributed in some small part to Bear Sterns’ bankruptcy earlier this year.
Now, Mr. Mad Money himself, James Cramer, is suggesting that the same fate could become of Lehman Brothers and its CEO Richard Fuld on roughly similar terms. He explains it in depth in New York Magazine this week and I simplified it in the pictorial warning sign above for the magazine.