I apologize for not writing in the last few months. I have no one to blame but myself, even though I have a lot to say. The problem is that I just don’t know how to say it. That being said, here goes:

Over the next few months, you will notice a significant change in the tone and content of this blog. From now on, I am going to write solely about things that drive me crazy. This could be things in the political arena, locally, nationally and internationally, or it could be things on Wall Street, in hedge funds, mutual funds, markets and interest rates. Most likely, though, it will be things that really irk me day to day.

The reason for this post’s title is because, well, folks, I have a problem with technology. I am sick and tired of people being more tuned into their phones than they are into the world around them. Recently I was in Hale and Hearty at Third Avenue and 43rd waiting in the salad line, when I observed the atrocious behavior of a woman ordering her salad while texting and listening to something on her phone. The woman had the audacity to criticize the chef because she put too much dressing on the salad. The customer, it seems, did not hear the chef ask about the dressing. The customer stormed off in a huff leaving the salad. So, because she was texting and listening, this customer wasted the time of the chef, the time of all the people in line -- including yours truly -- and wasted the food. Hope the text was meaningful.

We need to stop this madness. Texting, talking and e-mailing has gotten out of the control. The evil genie is out of the bottle. There is more to life than interacting by entering a few characters on a tiny screen. Stop the madness put down the phone…

On a separate note, we had the first HEDGEAnswers last week. Stay tuned; the next one is in November. Don’t delay, click here to register today to get in on the discussion.

Ladies and gentlemen, I want you to get mad. With the start of summer just around the corner and the spring flowers in bloom, we need to get mad in order to avoid SAD: self-assured destruction. 

Many of us remember the Cold War acronym MAD, for mutually assured destruction – the military doctrine that the use of weapons of mass destruction by each side assures the destruction of both, making victory meaningless. Well, now that the Cold War is dead and buried, we need to be thinking about SAD, the inability of the United States government to stave off another red threat from the east – China.

            As things stand now, we are headed on a course that will destroy this country. The Chinese have taken our manufacturing jobs, stolen our technology and continue to manipulate the global economy for their benefit.

            Washington needs to stand up to this threat and start playing offense instead of defense. It seems that both the Executive and Legislative branches are more interested in calling each other names than actually dealing with the problems that threaten the American way of life.

Something needs to be done and done now. In the next few weeks, President Obama and Governor Romney will begin duking it out over everything from gay marriage and abortion rights to gun laws and tax policies, while the one and only thing I believe should be focused on is the threat from China.

The damage has been done, but it is not too late to save us from SAD – the first thing that needs to happen is action to curb China’s currency manipulation.

            I know many of you are donors to both the Democrats and Republicans and will interact with both the President and Governor Romney, as well with members of both houses of Congress. Well, when you meet them make sure you talk about China. It’s time to get mad because it’s the only way to make sure we don’t end up SAD.

The next HEDGEAnswers call is on May 16 at 10 a.m. Register by clicking here. The talk will be fast, furious and full of information to help you grow your business.

Also my new book – the second edition of The Fundamentals of Hedge Fund Management -- will be out soon. You can pre-order by clicking here.

THINGS THAT DRIVE ME CRAZY:

Two words: Bobby Valentine. I mean, really, what were John Henry and his partners thinking? He is completely the wrong choice if ever there was one to skipper the Red Sox. His arrogance, attitude and lack of Red Sox aptitude are making a bad situation worse.  He needs to go and go now!

Rule number one – sometimes you lose and don’t get a trophy. Rule number two – when you lose and you don’t get a trophy remember the feeling, work harder next time and if still lose, repeat and do it again eventually you should win. However, everyone is not entitled to a trophy! Do you hear that soccer moms and dads across the land? We are raising a bunch of kids that simply think everyone gets a trophy no matter if they win or lose. There is a growing sense of entitlement among kids today that they deserve something shiny just for showing up and putting on their cleats. Well ladies and gentlemen this is just plain wrong. We need to start educating and raising our children to understand that in sports as well as most other things there is always a winner and a loser. I am not advocating losing, rather just the opposite, I am advocating teaching young people that they need to focus on winning and if they lose, they need to figure out what didn’t work, fix it and try again. Maybe I am crazy to think this way but, I don’t think so.

I know I have been away from the blog for some time. However, my only excuse is that I am finishing up a new book and that has taken all of my creative energy.  The book is now done and I am back in action.

Stay tuned more to come…

THINGS THAT DRIVE ME CRAZY:

People who let their kids in the pool with diapers – not swim diapers – make me sick. Recently, we were down in Orlando at the Nickelodeon Resort and I witnessed this first hand. A person took her daughter into the pool without the proper diaper and made a stink when the life guards called her on it. The selfishessness of this individual was incredible. The fact that she made a stink about it (no pun intended) was even worse. Hotel security escorted her and her kid out of the pool area because she simply could not abide by the rules. I applaud the life guard and security for removing this individual and keeping the pool clean!

Black Friday, Cyber Monday, Twofer Tuesdays, Wacky Wednesdays and Thirsty Thursdays. What a bunch of nonsense!

Things are in a sorry state when the lead story on the news is how much more crap was sold this year than last and how buying stuff is going to stave off the double-dip recession, increase employment and fix all that ails the economy. I don’t know about you, but I am sick and tired of hearing that the only thing we can do to fix the economy is to spend money. Buy this or buy that and through this unselfish act the world will be a better place. I say baloney…

We need to get people back to work. We need to retrain workers, prepare students and get people thinking about putting in a day's work to provide for their families. Just buying stuff is not going to get the job done. Education, retraining and commitment to job growth are the only things that will get this country moving again. Buying stuff is just throwing good money after bad and putting off the inevitable.

HEDGEAnswers' next Launch Session Call is December 7 at 10 a.m. The call has been rescheduled from November because of a death in the family. There is still plenty of time to get in on the discussion. Click Here to register. The call is going to be chock full of information on how to launch and grow a successful fund. Don't delay register today!

First, I apologize for not writing over the last couple of weeks. I’ve been preoccupied with finishing the Second Edition of The Fundamentals of Hedge Fund Management. I handed in the book today, so now I have plenty of time to resume my blogging activities. Also, I apologize for the last post being one about Star Jones. Okay, now that I have completed the pleasantries, on to business:  They say that if you live long enough, you’ll experience everything. Well, a week ago, it happened.

I got a very simple, not elegant, email from someone I went to college with. I knew the person, not well; I don’t think I spoke with her more than once or twice in the four years I was at Clark. Nonetheless, she emailed me about a business opportunity. Being the curious person I am, I emailed her back and told her to give me a call. What a mistake. It turns out that she’s an unhappy schoolteacher who has decided to get into reselling electricity. According to her, it is a great opportunity and if I had thirty minutes she could come by the house and explain how I too could get in on this ground-floor opportunity.

Needless to say, I passed. Do I need to say more about Linking In or not? I don’t think so.

The good news:

We are about to launch the new HEDGEAnswers portal. After many years of thought, comments and hard work, we’re just a few weeks away from going live. If you’re interested in being part of the beta of the new site, please contact me.

The next HEDGEAnswers Conference Call is scheduled for November 16 at 10 a.m. The recent news coming out of the SEC and the current state of the economy are sure to make the discussion fast, furious and informative. Register today by clicking here.

THINGS THAT DRIVE ME CRAZY:

Duane Reade is really a terrible place to shop. The staff is rude, the products are overpriced and unless you’re interested in baked goods, lipstick and cat litter, I suggest you find another pharmacy. There seems to be an arrogance among the staff that frankly I don’t understand. What happened to the good old Mom and Pop drug stores? If you’re in the city and need a pharmacy, I suggest finding an alternative.

I can’t believe this post is coming out – I agree with Star Jones.

On a recent segment on the Today Show, Jones, along with Donnie Deutsch and
Nancy Synderman, were asked by Matt Lauertheir thoughts on the “Fat Tax” that went into effect on Saturday in Denmark.

The tax is applied when saturated fat content exceeds 2.3% of the total content of the food. The formula, the food police say, will increase the cost of a bag of chips by 12 cents and a hamburger by 40 cents. The idea is that if it costs more, you won’t buy it.  However, it is really an attack on the rights of the good people of Denmark.

Well, Deustch and Snyderman applauded the new tax, calling it a great move that will cure obesity. Jones said it was outrageous and she questioned the long arm of the law and government’s continuing involvement in the lives of its citizens.

I never thought I would say it but, well done, Ms. Jones.

Being able to think clearly and process information quickly is something that separates good traders from bad traders. Understanding odds, strategy and potential outcomes are the tools of the trade for those making both short-term and long-term investment decisions. These skills and others can be learned not only in a classroom or by interning at a fund or sitting on trading desk, but also with a deck of cards or a chess board. Learning to play games that make you think, strategize and focus can help you become a better investor. It may also help you become a better entertainer.

In recent weeks, hedge fund managers obsessed with chess and bridge have been profiled in a number of publications. Any recent listener to the King of All Media has heard him speak at length of his exploits in the game of kings. Followers of the Oracle of Omaha and many other Wall Street titans know of their love of Bridge. The World Series of Poker often features hedge fund folks and actors, includingJason Alexander and Ray Romano. What does it all mean? Simply that being good games that make you think will help you in your career and can provide you with the tools for success. The recent New York Times article on how chess prowess got a budding hedge fund manager’s foot in the door at Goldman Sachs can be read by clicking here.

Becoming a grandmaster or making it to the final table in the World Series of Poker doesn’t assure success, but it can’t hurt. Pick a game, learn it, live it and become an expert. It just might help you be better at what you do.

THINGS THAT DRIVE ME CRAZY

I am sick and tired of being nickle-and-dimed. Everywhere I go and with everything I do, there is a new fee. Have any of you taken a look at your cable bill or cell phone bill? These providers have become the fee-you-to-death companies of the decade. Each has come up with new ways to make money by adding random fees and surcharges with abandon. No longer is the price the price, but rather the place that the bill begins. And banks are next. Three words… Bank of America!

It makes me nuts, and I’m sure I’m not the only one.

The UN has left the building, or least the island of Manhattan.  My take, after reading the coverage in a number of newspapers over the last week or so, is that nothing was accomplished other than snarling midtown traffic . Of course, I didn’t expect much – which is a sad reflection on the power and prestige of the United Nations  today.  Maybe I’m wrong, but it seems like a body whose time has come.

The big news this past week was, of course, The BernankeTwist. Not to be confused with a children’s game or theChubby Checker song, this is an effort by the Federal Reserve Chairman to spur the economy. Looks a lot like rearranging deck chairs on the Titanic to me but, hey, I am not some expert on this stuff, just an observer. Needless to say, something has to be done to fix the economy. Perhaps this will be the start of the great fix. Let’s hope so – we need it.

In a few short weeks we will be re-launching theHEDGEAnswers website and rolling out our community and portal into the hedge fund industry. The new site comes with lots of bells and whistles, all geared toward increasing your, my and our knowledge of hedge funds. I encourage you to register and become a part of the community and get in on the discussion. Stay tuned for the official launch date.

THINGS THAT DRIVE ME CRAZY:

Every day, sometimes twice or three times a day, I get an email, a call, or a letter from a bank, credit card company, utility or other vendor asking me to stop getting paper statements in favor of email billing. Now I understand how this helps the environment and how it helps the company , but how does it help me? I don’t think it does. In fact, I think it will cost me more to do it their  way.  Let me explain: If I get an electronic statement, I’m still going to have to print it out to read and store. This means more money spent by yours truly on ink, paper and eventually a new printer. They get a decrease in paper costs, postage and fulfillment, as well as a couple of other things that I’m probably missing.  They win – we lose.

The city is a mess this week as the United Nations meets in midtown.  It is literally littered with hundreds of diplomats and what seems to be thousands of security personnel. Avenues have been shut down, sections of 42nd and 57th Streets have been blocked and it seems that everyone and anyone is getting some sort of police escort through midtown.

Now here’s the thing: From 1993 until a couple of years ago, I thought all these motorcades and signs of security were cool. Now I find them just annoying. I am no longer impressed that this delegation or that world leader has a five-, six-, seven-or-more-vehicle-long motorcade. Now I wish that they would just leave the city and let things get back to normal.

The sights and sounds of U.N. are just plain annoying and the headaches they cause by tying up traffic just send me around the bend.

Next week will be about hedge funds and HEDGEAnswers, stay tuned…

HEDGEAnswers began its sixth season yesterday with interesting commentary on the state of the hedge fund industry, the future of alternative investments and the effects of Dodd-Frank. It is hard to believe that we are in our sixth year of running these educational programs. Their goal is simple: to provide answers to entrepreneurs looking to start and grow a hedge fund business.  Our panelists include lawyers, accountants, administrators and consultants who tell it like it is during the hour-and-a-half program.

It is great to be back.  The series’ next call is on November 14^th at 10 a.m. You can register by clicking here.

The recent news that the World Bank is going to commit capital to hedge funds is a great sign for the future of the industry.  According to a report in the Financial Times, the World Bank, through its private-sector lending arm, The International Finance Corp., is going to put $100 million into a new fund set up by Christofferson Robb & Co. The fund will use its assets to cover unexpected loan losses at banks, in return for a fee for the use of capital.  This is a clever way to help banks that may have problems with new tighter rules oncapital requirements in the wake of the credit crisis. This is good news for the hedge fund industry and I believe it is the start of something very good for the industry. Stay tuned – the times they may be a-changing…

 THINGS THAT DRIVE ME CRAZY:

I am looking for accountability. I mean, is it to much to ask? I don’t think so. Everybody seems to pass the buck and nobody seems to want to take responsibility for anything any more. I don’t know when this changed in our culture but I don’t like it. It needs to change back and change back soon.