HedgeStreet can be used to hedge or speculate on the outcome of economic events. For example, if you have a home that could depreciate in value, you might buy Hedgelets to hedge your potential loss. Or if you have insight into the direction of real estate prices, you might want to buy Hedgelets to speculate on your insights.Just seems like plain old gambling to me. Still, the idea that you can bet against other people on California gasoline prices with a minimum ante of under $10 might suck people in. I'm a bit surprised that Bill Bennett isn't at least in their advisory board. Maybe we could start up the sports hedge fund, Keith. Like any gambling venture, the house always wins in the end, even if a few people have a good time in the process.
Wednesday, August 17, 2005
Hedging Your Bets
I've been hearing advertisements of late on the local all news radio, KCBS, for something called Hedge Street. Hedge fund investing is not something you want to try at home, but it seems that this startup is bringing to joe six pack the joy of betting on how the economy will perform in various markets:
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Looks risky to me, I have this thing about letting other people lose my money when I am perfectly capable of that myself. I guess if you buy a stock market based hedglet then you are relying on some broker to pool your minnimum investment with others in a long or short position in a stock and my instincts tell me that is no guarantee no matter which direction your "idea" goes. I must admit though it seems like a sure thing compared to any sports book I could make.
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