Investors Chronicle, November 12th, 2004
It seems like the perfect paradox. If any paradox requires a rejection of conventional wisdom, a flipping of accepted notions on their head, then this one is the nose on the great Durante - an inversion of an inversion of an inversion. What I'm thinking of is insuring the Bearbull Hedge Fund by short-selling shares in a hedge-fund manager.
Let's think about that. Inversion number one arises because hedge funds, by their nature, are paradoxical creatures since they can make money in falling markets. Inversion number two results from selling a hedge fund's shares short, because this should be...
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