Wednesday 11 April 2012

Jim McCaughan is obsessed with the idea of getting his hands on a fund of funds fund hedge fund

It's all he thinks about, morning, noon, and midnight (oh, midnight, the very worst time to think about such things, in my experience). It's a rather sordid affair. Obviously, Mr McCaughan is the chief executive of Principal Global Investors, but that's no excuse. The man should have more restraint, and a greater sense of decency. Everyone knows about it, this obsession. Has he no shame?

Speaking to no one in particular, Jimmy has even said:

And I'm interested in fund of funds of fund hedge of fund funds, where I can be certain they add value in terms of selection and structure[1], and I'm interested in fund of funds of fund hedge of fund funds, where I can be certain they add value in terms of selection and structure[2], and I'm interested in fund of funds of fund hedge of fund funds, where I can be certain they add value in terms of selection and structure[3], and

Well, he's been under a lot of stress lately. I'm not going to judge him. Only God can judge him. (No, he's not 2Pac.) I'm sure he's an extremely decent man, with or without the double Glocks. This sort of thing can happen to anyone.

Let's face it, finance is a mad business. I don't know why people do it to themselves. I know they want the money, but how much is enough? How many pieces of toast can you eat for breakfast? (I normally have two with blackcurrant jam.) How many cars can you drive? (I'm not into cars.) How many houses can you live in? (These questions are bloody ridiculous. I remember what Dylan Thomas once said: 'Questions are hunchbacks to the poker marrow.'[.] And he knew what he was talking about, believe me.) And, er ... It doesn't really matter, does it?