There IS no glamour in a hedge fund.
The modern markets are simply not dominated by fashion.
Now … pre public market startups? A different story.
K
On Sep 16, 2015, at 5:56 PM, Peter Fairbrother <zenadsl6186@xxxxxxxxx> wrote:
On 17/09/15 00:48, Bill Claybaugh wrote:
Or is it just another urban legend that airlines make no profit?
Why do people continue to finance them?
Sounds like an urban legend to me, but what do I kno?
Indeed; see Warren Buffet in the 22 November 1999 issue of Fortune magazine.
In one word - glamour. People invest in airlines, and spaaace, for glamour,
not for profit.
That is of course the reason why no-profit pricing continues to exist in the
airline industry - the extra, nan-balance-sheet, profit of glamour.
-- Peter Fairbrother
