Back in the day, let's call it the 1990s, when I first started writing about hedge funds, they were generally considered as investment vehicles for the super-rich and adventurous investors who were not happy with the returns they were getting from mutual funds. Things have changed since then - hedge funds have grown in size and in the amount of institutional money they manage.
Commentators in the media frequently claim that hedge funds have had their day. Hedge fund managers frequently complain that there is not enough volatility in the market to make money. I would argue that there is a time and a place for hedge funds in a portfolio, and today I'm looking at a listed one that is holding up well and even making money in tough markets.
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