Hedge funds’ secret weapon is ex-Obama aide

goolsbee cc

Goolsbee leaves the White House and then hedge funds pay premium dollars to hear him wax economic every Friday over the phone. Why? Because the hedge funds believe Goolsbee offers “insight” into economic moves coming from the White House.

It’s not a bad position to be in – unofficial conduit between Obama and the hedge fund industry. But sorry everyday stock traders each call is limited to 16 participants and if you have to ask how much it costs to be on the call you have no business on it.

You and I have to wait a few days to get the official economic tack from the White House. And as we all know that’s a few days too late.

(From CNBC)

Those firms and others paying to be on the call get to hear from Goolsbeee on the most important economic and policy issues of the day, such as Federal Reserve moves, the U.S. housing market, bitcoin, high-frequency trading, Chinese growth and the debt ceiling. Goolsbee does not give trade ideas for the hedge funds, but rather they get his big-picture perspective on issues more indirectly related to their investments…

…Arbess called Goolsbee “a brilliant and flexible-minded economist” who helps him understand the intersection of government policy and investing in part because of his “strong informal ties” with the Obama administration.

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15 comments
Ralph Roberts
Ralph Roberts

Do you guys really trust hedge fund managers?

Norm Davis
Norm Davis

Maybe he can do for these hedge funds what he did for the economy.

Mario Gutierréz
Mario Gutierréz

...but I heard Obama and the Democrats are for the little people. Its those "nasty, bad Republicans" that are in the pocket of Wall Street. 0.o

Herb Fisher
Herb Fisher

Um, hedge funds. I really need these in America,

Samuel Gaines
Samuel Gaines

Obama is a progressive liberal. He learned at the feet of Frank Marshall Davis, a communist, and took his community-organizing cues from Saul Alinsky. Goolsbee may be a neoliberal though.

Nancy Cress Skalsky
Nancy Cress Skalsky

This government has become criminal for too long. None are to be trusted anymore. And that's their own faults.

Samuel Gaines
Samuel Gaines

"Poor" union thugs? Seriously? Unions comprise 5 of the top 10 campaign contributors thus far in 2014, per OpenSecrets.org. Try again.

Brian Schatz
Brian Schatz

In case Nick Sorrentino has not noticed, Goolsbee, Obama and most of the folks Obama appoints and surrounds himself with are Neoliberal Corporatists. They're not Liberal. They are Neoliberal, and Neoliberals are poisonous.

Benjamin Stockton
Benjamin Stockton

This can't be right. Rich people trying to subvert the system? Only poor "union thugs" cause problems, not the noble hard-working God-fearing rich! Say it ain't so, Libertarians, say it ain't so!

Ruth Herr
Ruth Herr

11/6/014 CRUSHING The LEFT! Blame it on obama

John Crifasi
John Crifasi

It could be worse, it could be jon corzine and he has a habit of making billions of dollars disappear into thin air and not being held accountable for it.