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Jim Grant: The Long Decline Of The Hedged Fund

TedTed
in The Bullpen
FYI: “Long-only hits the spot for hedge funds,” ran the headline in the Financial Times the other day. “Hedge?” The word used to be—and may one day be again—“hedged.”

Alfred Winslow Jones, a Harvard University–educated sociologist who surmounted a career in financial journalism to make a name for himself on Wall Street a half-century ago, was the progenitor of the “hedged” fund. The loss of the final consonant speaks to what the finance professors call “recency bias” and what the laity knows as a sweet, prolonged, possibly endless bull market.
Regards,
Ted
https://www.barrons.com/articles/bear-markets-go-out-of-fashion-plus-why-closed-end-munis-are-no-free-lunch-51556306687?refsec=income-investing
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