…to Federal Reserve data. And finally a related NY Times article on hedge funds: Could a Few Hedge Funds Spoil the Party? “…in some markets, particularly fixed income and convertible…

…the Mississippi. Though it uses the motto “Building America,” mostly what it builds today are returns to shareholders, due to its capture by hedge funds. In 2021, for example, UP…

…sponsoring hedge funds and equity funds and from engaging in a great volume of proprietary trading–those things that their management has loved to do in recent years. And it got…