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Richard Smedley
Works at Cuprium Software cic
Attended Royal Botanic Gardens, Kew
Lives in Nr Manchester
231 followers|9,126 views
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Richard Smedley

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Less than 15 hours to go! Open Source Permaculture: help to build the most comprehensive free resource for Permaculture education!

▶ $1, $5 and $25 donations DO make a difference!
http://www.indiegogo.com/OpenPermaculture
Help create Urban Permaculture Book, Q&A site and Wiki for everyone!
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A little horticulture / permaculture teaching, but mostly writing / project managing Free Software (AGPLed Credit Union / microfinance software), a bit of writing, and a bit of hosting and server monitoring.

It all more-or-less balances out :-)
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Richard Smedley

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An expanded version would have a hammer in there somewhere...
TECHNICS originally shared:
 
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Richard Smedley

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"84% of the investment gains of the entire hedge fund industry went to the managers, and only 16% to the investors."
Tim O'Reilly originally shared:
 
Truly eye-opening: According to a recent book, The Hedge Fund Mirage (http://www.wiley.com/WileyCDA/WileyTitle/productCd-1118164318.html), by Simon Lack, from 1998 to 2010, 84% of the investment gains of the entire hedge fund industry went to the managers, and only 16% to the investors. The thievery of our "financial industry" beggars the mind. Never mind the 1%! This is a tiny fraction of the 1% fleecing the rest of the 1%.

According to The Financial Times:

http://www.ft.com/intl/cms/s/0/c68c0250-379f-11e1-a5e0-00144feabdc0.html

"In fact, concludes Mr Lack, while many hedge fund managers have prospered from hefty fees, the bulk of their investment gains have not been shared with clients. On an asset-weighted basis, measuring cash invested to cash returned, hedge fund investors in aggregate, while narrowly beating the average return from equities, would have made more money over the past decade from investing in government bonds, and even from Treasury Bills.


"Of course the experience of 2008 colours these figures. According to Mr Lack, the hedge fund industry lost more money in that one year than all the profits it had generated during the previous 10 years. In fact most likely, he says, is that hedge funds lost more money for their investors in 2008 than the industry had made in its entire history. If true, that would put the industry up there with airlines and banks in the annals of long-term, non-productive performers from an investor perspective.

"Not that the managers have suffered the same way, of course. That is the brilliance of the hedge fund model. Between 1998 and 2010, the book shows, _even on favourable assumptions hedge fund managers earned an estimated $379bn in fees, out of total investment gains (before fees) of $449bn. In other words, they took 84 per cent of the investment profits their funds made, leaving just 16 per cent for the investors.

"Once you make adjustments for survivorship bias, fund of funds fees and so on, it is probable, he suggests, that hedge fund managers have kept all the money made, and investors have in aggregate received nothing_." [italics mine]
One of my New Year resolutions – and sadly the first to be broken – was not to write any more negative articles about hedge funds. Some of the poor chumps in the industry seem to be sensitive to anyth...
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Richard Smedley

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"But let’s not forget the real problem here, it’s not the north – it’s the UK’s economic centralism. Thus, this shouldn’t be about just flying the flag for England’s north but about standing up against economic centralism and bringing about fundamental economic change and a new economic localism."
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Richard Smedley

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Google+ has one advantage over Twitter & Facebook - my timeline here isn't swamped with posts about the ignoramuses competing on the #Apprentice :-)
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It's just good to see a nice guy who's not a pushy, over-confident egoist like the rest, actually come out on top. And he's an engineer :-) #riseofthegeeks
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People
In his circles
463 people
Have him in circles
231 people
Benjamin Standring's profile photo
Chris Garland's profile photo
Jag Goraya's profile photo
Francis Fish's profile photo
Beth Edmondson's profile photo
Tom Sparrow's profile photo
Sean Wisley's profile photo
James Wade's profile photo
Ben Gibbs's profile photo
Work
Occupation
Sustainable IT; #openmoney; permaculture; teaching the next generation.
Employment
  • Cuprium Software cic
    Credit Unions; Micro-finance, Complementary Currencies, present
  • Royal Botanic Gardens, Kew
  • HDRA, Ryton Organic Gardens
  • Linux Format, Future Publishing
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Nr Manchester
Previously
Trefaldwyn - Llynlleifiad - Llundain
Story
Tagline
Social Entrepreneur; Geek; musician; permaculturist; vegan; father; husband; Welsh
Introduction
1980s = musician; environmental campaigner
1990s = organic gardener, and permaculture designer
2000s = Free Software; Technical Writing; Social Entrepreneur; Sustainable IT
2010s = Financial permaculture; teaching coding; lost skills; wild food; urban farming
Bragging rights
Modesty in the face of Social Media self-promotion!
Education
  • Royal Botanic Gardens, Kew
    Botanical Horticulture, 1992 - 1995
  • Moulton College of Agriculture
    Organic Horticulture
Basic Information
Gender
Male