I spent two weeks in Southern France, starting at a GAIM conference in Cannes. As I wrote before, you don’t learn too much of a technical nature, but you get a good sense of the hedge fund business and concerns.
I gave a talk on lockups — how much excess return should you expect, rationally, as a fund of funds manager, for locking up your money with a hedge fund for several years? You can estimate this because of certain statistical regularities in the behavior of hedge funds.
An unrelated mundane question about Southern France: is it my imagination, or does the Coca Cola there taste better than in NYC, and, if it does, is it because they sweeten it with sugar rather than corn syrup? My bottle of Coca, as they call it, said sugar rather than corn syrup in the ingredients list.
The picture above is of some of the phenomenally tasty fruit in the Cours Saleya in Nice.