jamie dinan. work capital management. welcome to the show. anthony: do you think this is the fish inning in a washout of the hedge fund industry? >> i know dan. he does have a tendency to be a bit dramatic. though he's probably one of the better writers in the industry. i hope it's not first inning of a 9-inning game. but the first quarter was difficult for the industry. it's just accumulation, i think of a lot of people liquidating. big firms went to cash in equities and credit. i think a lot of people with the same names. the pfizer deal breaking didn't help the event driven guys. i'm one. we got you are in the that investment as well. but i don't think it's that bad. i have been through a lot of bad periods. i started in this business in the early 80s. 1984, 1991, 1994. 08-09 everyone remembers. it's been difficult. i have listened to stories about the demise of the hedge fund industry many times. it just doesn't happen. funds go in, fund go out. that's true for every asset class. i view this as we are in a cyclical downdraft. anthony: the

jamie dinan. work capital management. welcome to the show. anthony: do you think this is the fish inning in a washout of the hedge fund industry? >> i know dan. he does have a tendency to be a bit dramatic. though he's probably one of the better writers in the industry. i hope it's not first inning of a 9-inning game. but the first quarter was difficult for the industry. it's just accumulation, i think of a lot of people liquidating. big firms went to cash in equities and credit. i think a lot of people with the same names. the pfizer deal breaking didn't help the event driven guys. i'm one. we got you are in the that investment as well. but i don't think it's that bad. i have been through a lot of bad periods. i started in this business in the early 80s. 1984, 1991, 1994. 08-09 everyone remembers. it's been difficult. i have listened to stories about the demise of the hedge fund industry many times. it just doesn't happen. funds go in, fund go out. that's true for every asset class. i view this as we are in a cyclical downdraft. anthony: the

jamie dinan. work capital management. welcome to the show. anthony: do you think this is the fish inning in a washout of the hedge fund industry? >> i know dan. he does have a tendency to be a bit dramatic. though he's probably one of the better writers in the industry. i hope it's not first inning of a 9-inning game. but the first quarter was difficult for the industry. it's just accumulation, i think of a lot of people liquidating. big firms went to cash in equities and credit. i think a lot of people with the same names. the pfizer deal breaking didn't help the event driven guys. i'm one. we got you are in the that investment as well. but i don't think it's that bad. i have been through a lot of bad periods. i started in this business in the early 80s. 1984, 1991, 1994. 08-09 everyone remembers. it's been difficult. i have listened to stories about the demise of the hedge fund industry many times. it just doesn't happen. funds go in, fund go out. that's true for every asset class. i view this as we are in a cyclical downdraft. anthony: the

jamie dinan. he's the ceo. >> you have information, you worked hard, you made read more documents and made more phone calls. now machines read the documents much faster than you do. lastly, i think as the bar goes higher, you need a higher skill set. 20 years ago you could be an average investor and do well. today you have to be a world class investor to do well. charles: today's egyptair contractors comes among terror fears in egypt and europe. we'll have an update for you in 3 minutes. recently, a 1954 mercedes-benz grand prix race car made history when it sold for a record price of just under $30 million. and now, another mercedes-benz makes history selling at just over $30,000. ♪ and to think this one actually has a surround-sound stereo. the 2016 cla. lease the cla250 for $299 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. amazing sleep stays with you all day and all night. sleep number beds with sleepiq technology give you the knowledge to adjust for the best