Posted on 07/09/2009 1:13:00 PM PDT by Red in Blue PA
Cerberus Capital Management is still declining to let investors out of its main hedge fund, according to the Wall Street Journal.
In a letter to clients reviewed by the Journal, Cerberus chairman Stephen Feinberg said the firm is revamping investor terms on its main hedge fund.
(Excerpt) Read more at cnbc.com ...
they’re are a lot of the same of the same people
Cerberus is a place where people park their money. It is just like a bank.
Since Cerberus and other funds are trying to create obstacles to withdrawls indicates a possible run-on situation brewing among the wealthy.
Cerberus. They check in, but they don’t cash out!
And thus, people learn the hazards of hedge funds.
The problem is probably that Cerebus is not terribly liquid at this point, and they’re in an awkward situation coming out of the Chrysler debacle.
Gee, between Chrysler and GMAC, why would Cerebus be in trouble?
hh
Cerberus?!
The dog guarding the gate to Hades?
Who decided that would be a good name?
Can you imagine Nardelli, after the last 2 years he has had? He must be on a Caribbean beach somewhere with a needle in his arm.
Feinberg, if memory serves correctly. Cerebus isn’t just the dog who guarded the gates of hell, he was the three-headed dog that guarded the gates of hell.
They’ve been a very successful fund until they decided to start playing in the US auto industry.
Feinberg is unlike most of the hedge fund pollyannas - he doesn’t do the ostentation rich-n-famous crap. Very much a regular joe, pickup truck, deer hunting/fishing kind of guy. But very bright in spotting market opportunities — until he got sucked into the bottomless swamp called “Detroit.”
And are they going to waive their fees? No, of course not.
And apparently he’s up on his Greek/Roman mythology.
Sounds like a well-rounded guy you could have a beer with.
Maybe HE should run for Congress!
Just like a bank, “Once we got your money, it’s not your money anymore”.
Cerberus is obviously afraid of a run on redemptions. Things are bad and gonna get worse. I keep hearing the rumor of a possible bank holiday in September...who knows.
When the hedge funds go there will be a crash of $400T to make a loud noise.
Whistleblowers beter get ready because it smells like a perfect storm is coming this september
Why September?
Because they are reaching the point that they cannot paper over all of the sh!@ that's about to hit the fan
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