How The Hedge Fund Managers Are Preparing

14 01 2009

The New Paranoia: Hedge-Funders Are Bullish on Gold, Guns, and Inflatable Lifeboats:

During the final months of 2008, as the financial markets imploded, talk on trading desks turned to food and water stockpiles, generators, guns, and high-speed inflatable boats. “The system really was about six hours from failing,” says Gene Lange, a manager at a midtown hedge fund, referring to the week in September when Lehman went bust and AIG had to be bailed out. “When you think about how close we were to the precipice, I don’t think it necessarily makes a guy crazy to prepare for the potential worst-case scenario.”

Preparations, in Lange’s case, include a storeroom in his basement in New Jersey stacked high with enough food, water, diapers, and other necessities to last his family six months; a biometric safe to hold his guns; and a 1985 ex-military Chevy K5 Blazer that runs on diesel and is currently being retrofitted for off-road travel. He has also entertained the idea of putting an inflatable speedboat in a storage unit on the West Side, so he could get off the island quickly, and is currently considering purchasing a remote farm where he could hunker down. “If there’s a financial-system breakdown, it could take a year to reset the system, and in that time, what’s going to happen?” asks Lange. If New York turns into a scene out of I Am Legend, he wants to be ready.

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5 responses

15 01 2009
And They Say Agrarians Are Fringe | WildCraft

[…] what three months will do for ones reputation.  Take for instance a posting I picked up over at In Due Seasons blog.  More and more I am hearing all the time how ‘This ex-stock broker sold everything and […]

23 01 2009
Rural Missourian

In terms of preparation I see that there are few things that must be heavily emphasized:

1. Get out of paper assets NOW, even if it means taking the penalties. The current crash is systemic and whatever remains in paper (or electronic) form will go down with it, ether in default or the loss of purchasing power through inflation.
2. Covert your assets into tangibles, particularly good land and a means of production. If this means moving, do it now while you can, as it is not as easy at it may appear. Waiting for a pension to keep you going is precarious at best, as the dollar dies away.
3. The idea of running off and hiding out on a secluded farm is a delusion. Who has the energy to farm or work all day and then stay up at night keeping vigilance in protecting what one has against theft? As it was during the Great Depression of the 1930’s, theft is going to be a huge factor in the days to come, even more so with the godless masses that believe they are entitled to whatever “is theirs” no matter how they get it. Living and working locally in Christian community is going to be essential both for mutual aid and protection, besides the fact that is the biblical model for the Lord’s people. The American dream of rugged individualism and autonomous kingdom building will go down with our economy.

10 02 2009
Dr. Paleo Ph.D.

Hello there!

I would like to take a quick moment to tell you about something that is very close to my heart. I was hoping that it might be possible for you to help me. Please read this recent post of mine:

http://drpaleophd.blogspot.com/2009/02/its-finally-go-time.html#links

If you care about America and our freedom, you will be very concerned.

Spencer

P.S. And if you find that you agree with the concerns I expressed in my blog post, please blog this yourself, and let’s spread the word!

14 03 2009
Robert

I myself have pulled out, but still have my money in a MM fund. Interestingly, 3 weeks after I did this a friend of mine told me his investment advisor told him to do the same thing.

Those of us who bought in are in a principle preservation mode (not only values, but money, too now).

My next step? Probably to convert my savings account to cash and put in my safe deposit box, seeing how the FDIC is soon to be insolvent.

Thinking of buying Gold Eagles and keeping them at the house.

That’s all for now – I have a new chicken tractor to build…..

27 10 2009
Mia

This was a great article..

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