Over the past few months I have been hearing a lot of pouting regarding managed futures. A lot of managers are having a hard time raising money because of poor recent performance and some are paring back their marketing efforts.
The issue of insider trading from information emanating from Treasury Secretary Paulson's office was a focus of ruminations from this corner some four years ago. But hard questions, perhaps until now, have been few and far between.
On Friday S&P downgraded U.S debt from AAA to AA+, the first such downgrade in the nation's history resulting in grave concerns over the outlook for the U.S. economy. Yet simultaneously they must have been popping champagne corks at Pimco.