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That's right, hedge funds have a fiduciary duty to their investors.
by satisfaction 6y ago
That's right, hedge funds have a fiduciary duty to their investors.
- lann 6y agoFiduciary duty does not mean "must make money at the expense of all other considerations".
- onetimemanytime 6y agofiduciary duty means sometimes not to burn all your bridges. Politics aside, Trump Inc. is blackballed by all but one or two banks due to such tactics. Edit: And this is not $500 BILLION so you can say, F it, boom or bust, let's try it. The upside isn't that much, relatively speaking, considering the blacklisting downside. Even if Revlon doesn't pay, a large % is already banked or will be in bankruptcy proceedings so it's not a 100% loss.