On the Left Side

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So You Want To Make Few Extra Bucks? Simple-Start Up A Hedge Fund!

Richard Hughes PoliticalBlogger

Richard Hughes PoliticalBlogger

As a retired guy from time to time I think that it would be nice to bring in a few extra bucks.

Problem is that generally people actually want you to produce something of benefit to them, provide a service or some other such time consuming sacrifice.

Well that is a mugs game really. I mean why don’t I  just park my conscience and principles and start up a hedge fund?

Here is a look at a world foreign to 99 percent of us.

It’s a common belief that people are compensated more or less in proportion to the value they produce. Sure, it’s an imperfect measure – why should teachers make a fraction of what personal injury lawyers take in? – but if someone’s making billions of dollars per year, they must be doing something positive for society.

But what do those at the pinnacle of the economic pile – hedge fund managers whose compensation dwarfs that of the best paid corporate CEO – actually do? “A straight answer is hard to come by,” writes Les Leopold in his new book, How to Make a Million Dollars An Hour [4] (Wiley). “Mostly these guys (and yes, they are nearly all guys) keep their efforts hidden from view. Trade secrets and mystical lore shroud their every move. Neither regulators nor the public have any idea how so much money is minted.”

AlterNet caught up with Leopold to discuss the new book.

Read the full interview here


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