He thinks that calls for clever fund-raising, cautious spending and the precise measurement of outcomes.
Clever fund-raisers could drive truckloads of anonymous cash through that kind of change in the law.
More than anyone, Craddick was responsible for securing a Republican majority in the House, through clever fund-raising and indefatigable campaigning.
Many schools, including Guiding Eyes, also allow donors to choose a puppy name, a fun and clever fund-raising venture.
Clever hedge fund managers, who stand to reap huge rewards from their 20% carried interest (in addition to their 2% annual fee for assets under management), gleefully bet against the market on the way down and then for it on the way up and made giga-bucks from the rapid down-and-up.
Clever hedge-fund organisers may seed many funds, operate them for a few years, then announce in public only the most successful ones, "backfilling" the performance data from prior periods ie, projecting what the fund might have earned before it existed if it had pursued the same strategy.
If the fund can't earn back this hurdle rate plus the category benchmark average by clever stock selection (or reduce risk significantly), you shouldn't own it.
But it may amount to much the same thing making money and not losing it.A clever mutual-fund manager could, of course, pursue this approach in the new environment.
Politicians across the region feel sure they have a formula that can combine economic dynamism with order, taking in the best of capitalism (those sleek modern corporations and clever wealth funds) without unleashing the havoc that devastated Russia in the 1990s and threatened to consume America in 2007-08.
With the new funding, Clever has raised a total of about $43 million.
