May 23, 2005 – New York, NY – Charles Gradante, Co - Founder of Hennessee Group LLC, interviews with Monica Bertran on Bloomberg TV regarding hedge fund performance.
Gradante notes that "massive losses in hedge funds have caused equity market decline" and he points out that the GM bond trade caused hedge fund losses. Gradante makes the point that there are hedgers like airlines, insurance companies, central banks, oil companies and that there are hedge funds who trade on securities in each of the aforementioned. In essence, hedgers use same trading strategies as hedge funds. Also, investment banks and commercial banks have prop trading desks that trade like hedge funds.