Hedge Funds, Multimanagers, and the Macromarkets

A brief history of hedge funds will provide a perspective to the issues discussed in this chapter. The first hedge fund was formed in 1949, by Alfred Winslow Jones who invested his own money and other assets in his dealings. Jones employed several of the current hedge fund features, such as: leverage; performance fees; and long/short strategies. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.