Twitter users took to social media to offer a humorous look at what to expect now that the Securities and Exchange Commission decided to lift a long-standing ban on marketing and promoting private funds.
Although the rules are not set yet, that did not stop pundits from dreaming up some possible advertising and marketing campaigns for hedge fund and private equity firms. They created a hashtag — #hedgefundslogans — to track what became a series of jokes.
One of the most prolific posters was Barry Ritholtz, CEO of quantitative software research firm FusionIQ and a blogger. Most of his zingers
tweeted under the handle @ritholtz referenced old advertisements:
- “Everywhere you want to be (and a few places you don't!)”
- “Come for the high fees, stay for the under-performance.”
- “Sometimes you feel like a derivative re-hypothecated security, sometimes you don't.”
Then there were these from other Twitter users:
- “I don't always pay for underperformance, but when I do, I pay 2 and 20.” @RobBartenstein
- “All you need is a million dollars and a dream.” @EconomPic
- “Trades great! More billing!” @ReformedBroker
- “Galleon Group: They make money the old fashioned way — they steal it.” @Dashburn
- “Ray Dalio to promise: "You're in good hands with Bridgewater.'” @natashagural
And some referenced music of both today and yesterday:
- “Hey, we just met you, and this is crazy, if you pay 2 and 20, you'll see alpha maybe?” @StephenWHudson1
- “There's No Business Like Flow Business.” @edgeH2Otrading
Suggestions from Pensions & Investments' staffers included the Bridgewater Bowl at Citadel Stadium. Other sports-related ideas:
- Jim Nantz & Phil Simms live from Pittsburgh's Appaloosa Management Stadium; Appaloosa founder David Tepper has a minority stake in the Pittsburgh Steelers.
- Blackstone sponsoring the Super Bowl halftime show.