Parsing the predictions: Brother, spare a bil!


By Michelle Celarier, editor

Pity poor Alan Greenspan. At 85 years old, he has been faced with the uncomfortable realization that the philosophical underpinnings of his entire career - the rational selfishness promoted by his idol Ayn Rand - is false. Many of the delusions of the past two-plus decades have been unmasked since the financial world began imploding only a few weeks ago, putting the entire planet at risk. But as difficult and painful as the future may be for most of us, some of the gloom in hedge fund circles seems unwarranted.

Star managers who are accustomed to