A highly successful hedge fund closes down. The letter that it has sent out to its investors is a MUST READ for every serious investor.
It talks about global risks, increased obfuscation of data and the unreliability of data from India/China.
Transparency- whether it is corporate balance sheet or national statistics- Clearly on the decline. i find 1988 annual report far more revealing than a 2015 annual report, in the Indian context. And as regards GDP? Less said the better. In a year of de-growth, we show a seven percent growth! This is not stretching the truth. It is spinning a new yarn.
But this make believe seems to suit the regulators and the governments.
I found myself nodding my head at virtually every line.
I hope this sets you also thinking.
Investing is now a higher risk business than ever before. Take care with your wealth.