On Bad News
by JS
Considering the magnitude of the bad news this letter is brushing over conveying, the phrasing is remarkably mild, and strikingly non-contrite.
The preliminary estimates show there is effectively no value left for the investors in the Enhanced Leverage Fund and very little value left for the investors in the High-Grade Fund as of June 30, 2007.
Remember folks, the buy in for the hedge fund game is only $1,000,000.
