A Brief History of the Hedge Fund
> In the midst of a global crisis, the hedge fund has prospered.<p>The opening line itself should give away the bias. Despite the pandemic and everything else going on, there was no market crisis last year. Quite the opposite in fact. It was basically impossible to lose money, no matter what you invested in.<p>The article talks about hedge fund managers making record amounts of money – that's because that is what hedge funds are designed for. In an era where you can buy pretty much any security for free with a few clicks, their standard 2% of assets/20% of profits annual fee structure is absurd.<p>Sure hedge funds have made their investors money. The S&P 500, small caps, crypto, commodities, treasuries, currencies all have as well (and for a lot cheaper).<p>Here is a much more neutral take – <a href="https://www.investopedia.com/managing-wealth/hedge-fund-over/" rel="nofollow">https://www.investopedia.com/managing-wealth/hedge-fund-over...</a>