Economy
The journalist who accidentally invented hedge funds
HERE’S THE INTERESTING PART
The financial vehicle that allows billionaires to buy their third yacht was invented by a journalist on deadline. In 1949, while writing an article about investment trends, sociologist Alfred W. Jones decided he could manage money better than the people he was interviewing. He raised funds, employed a strategy of short-selling to hedge against market drops, and unwittingly spawned the $4 trillion hedge fund industry.
One discovery leads to another.
Keep exploring facts in this topic.
Economy →
