Interview With Andrew Lo: Masters in Business (Audio)
Masters in Business
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Hedge Funds Survived the Financial Crisis
The entire hedge fund industry is only three trillion, but that number is misleading because hedge funds can use leverage and they can go short. So that three trillion goes a long, long way in terms of having market impact. It's really the complexity of the system and the fact that we have these nonlinearities that people weren't focusing on that ultimately caused this is huge debacle.
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