When Genius Failed - Study Guide Hedge Fund Summary & Analysis

Roger Lowenstein
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"And there were plenty of rich people about. Thanks in large part to the stock market boom, no fewer than 6 million people around the world counted themselves as dollar millionaires, with a total of $17 trillion in assets. For these lucky 6 million, at least, investing in hedge funds had a special allure" (Chap. 2, p. 23).

Value funds were a popular investment during the 1990s. They were not subjected to most of the reporting requirements that mutual funds were. They didn't have to register with the Securities and Exchange Commission (SEC). Value funds function as investment pools for the rich and are not regulated. They must make reports to the Commodities Futures Trading Commission (CFTC).

The hedge fund is like a club of limited investors. Legally, there cannot be more than ninety-nine investors worth one million dollars each or five hundred with a portfolio of five...

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This section contains 621 words
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Buy the When Genius Failed Study Guide
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