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6:46 PM
Crammer:
"And manyhedge funds are in trouble. I keep thinking about the note that MikeFarrell started his Annaly (NLY) conference call with, about howNapoleon set off to Moscow with 400,000-plus troops, but returned with10,000, and that's the ratio of hedge funds to hedge funds that willsurvive this period. Drastic? Yes.
But only Farrell was right. I mean it, only Farrell was right about this crisis, and he must be obeyed." |
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