Colorado Foundation’s Faith in Hedge Funds Unshaken After Rout
Bloomberg, March 6, 2009.
Faith = risking money despite evidence of losses.
Christopher Bittman, head of the $1 billion University of Colorado Foundation, is committing more money to hedge funds even after the industry handed investors record losses last year.
March 4, 2009. LA Times.
Lack of faith = not risking money due to fear because evidence is not available.
This terse article reads like inside baseball, but this quote is clear: "At the current price the stock’s annualized dividend yield is 14%. That’s the market’s way of saying it’s sure the dividend is a goner."
March 6, 2009. SF Gate (San Francisco Chronicle)
Faith = ideology instead of facts, evidence.
Making tough decisions with facts, not faith, is so emblematic of Mr. Obama's new pragmatism. But as the Congress begins debate over his huge education initiative, we will discover whether Obama's commitment to science is real, or simply rhetoric.
March 5, 2009. NY Times.
Faith = belief in something that is contradicted by what's going on in Japan.
For those seeking solace in the conventional wisdom that stocks rise in the long run, consider this: 20 years after Japan’s stock market peaked, share prices are still less than 25 percent of their top values.
March 5, 2009. US News Money & Business blog.
Faith = lip service without risking anything.
It’s easy to pay lip service to stocks being a good long-term investment, but few investors plan to actually buy them during a month when the Dow Jones Industrial Average plunged below 7,000. About half of Americans (53 percent) and 67 percent of stock owners agree that stocks remain a sound long-term investment, according to a Gallup Poll conducted March 4.For most of these sources, faith is wishful thinking which is opposed to evidence and facts. Perhaps someone at the University of Colorado Foundation has had a private revelation about an unexpected turnaround in hedge funds. So it would seem that journalists agree with the theologians that faith is something remote from evidence and facts...