The Fed acted swiftly and brilliantly,

The historical performance of hedge funds indicates that they deserve a little more rope, after 14 years of being tracked by professionals, now that they have hit a soft spot in their track record.

When it's an optional regulation, it's not that big of a deal, ... Next year it will be an issue: Investors will be asking the hedge funds, 'Why not register?'

There is conversation that over the next ten years, hedge funds would become like mutual funds, ... There is some merit to that conversation, but I think there might be some lag time.

More and more strategists are of the opinion that the Fed may be completely through.

We are all faced with a series of great opportunities brilliantly disguised as impossible situations.