The New Hedge Fund Honchos - Summer and Snow Partnersposted by MR WAVETHEORY at 1/23/2007 06:45:00 AM
Why did these people get the money? Connections.
``We see a lot of potential in emerging markets for economic growth,'' Jelle Beenen, a portfolio manager at PGGM, said in an interview. ``The reason that investing there is always a problem is there are issues like fraud and political instability, so that's why there's value in political-risk management and the involvement of Secretary Albright is a valuable one.''
The truth is that connections are more myth than reality. Sh*t happens, even to bright people.