Thursday, October 25, 2007
Agricultural commodity prices hitting highs. And a new $282 billion 2007 Farm Bill in USA. Hmmmm. A quick review of the bill seems to have a bit for almost everyone, (for how else does one get to $282 billion?). Ummmm, one question though: may I have some, too, please? For I, also, am frequently victimized by the vicissitudes of the market and would clearly benefit from some income support, and some re-training assistance to learn how to cope with momentum-humping stock-jockeys, particularly during times of divergently speculative markets that cane the more value or reversion-oriented investor. And perhaps the US Govt could pay me to set-aside some of my less-successful investment strategies that have recently suffered from alpha decay?? Am I any less deserving than the noble cotton farmer or hard-working tobacco grower?? And like the USDA, Government can buy some of my other, unwanted or unneeded otherwise discarded strategies, for redistribution (in-kind) to those obviously less fortunate who have no investment strategies at all (not even bad ones!). Any troll through the internet employing the keyword "trading stocks" will show just many people must be so disadvantaged, lacking investment strategies of their own. Additionally, as in the farm bill, I could definitely benefit from some research assistance, for lord knows competing against the countless PhDs at Renaissance & DE Shaw, not to mention the Indians, Chinese and Russians, is quite a thankless task. Oh, and don't forget marketing assistance. As a small investment manager marketing is on a ongoing challenge, so I would be grateful please if you could appropriate some funds to help us small HFMs better reach our target market. Maybe the Feds ould even apply the pressure of the USTR to twist the arms of SAFE's SWF to let us little guys manage some of their gargantuan pot of money. But don't get the wrong idea. I don't begrudge farmers recent good fortune (indeed, some of my best friends are farmers!) for lord knows their terms of trade have, errrr, sucked for the last two decades. I just think that from a public-policy POV, we might benefit from a method of reducing the flow of the spigot, or milk descending from the Federal milk-teat, during times-o'-plenty, else simple souls like me will think some are double-dipping, and no-one likes a glutton - whether they are noble farmers, HFMs or PE-weenies.