AtHarvardandat Shaw, Mr. Summers cultivated a smallcircle offinancialprofessionals - particularlyhedgefundmanagers - to serve asan informalbrain trust.
From my study of money managers, and particularly mutual fundmanagers, those with much larger-than-their normal cash positions miss the relatively easy winnings in the early stages of recovery.
And individual investors, investment banks, fund-managers and particularly public pension funds should expand their "due diligence" assessments to include national security, human rights and other appropriate non-financial considerations so that the American people -- six out of ten of whom are now reportedly in the capital markets -- have the data required to make informed investment decisions.
He also says the firm avoids anything that could be classified as inside information, a particularly sensitive topic these days for hedge fundmanagers.