They are the ones paying the fees, taking on the risk and then realizing disappointing returns at the end of the 10-year fund (which actually takes 15 years to liquidate).
If they want to liquidate the club for that money while they still charge their huge fees then all I can say is that the blood is very much on their hands".
Partnerships raise funds and earn fees, and then are forced to exit their positions and liquidate the funds, typically within seven years.
In July, Cerberus decided to restructure the funds, offering clients who chose not to liquidate the ability to roll any future profits into a new hedge fund with sharply reduced fees.
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate".
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," he coldly advised.
(Sound familiar?) "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," Andrew Mellon, Herbert Hoover's Treasury Secretary, advised.
According to Herbert Hoover, Andrew Mellon, his Treasury secretary, urged him to "Liquidate labor, liquidate stocks, liquidate the farmers..
This is just a modern version of "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate...
The attitude recalls Herbert Hoover's account of Andrew Mellon's advice on how to deal with the Depression: "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate".
"To liquidate the gains of labor --.
