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Exploring the History and Evolution of Hedge Funds
This chapter delves into the origins of hedge funds in the 1990s, highlighting their initial purpose of maximizing unique investment opportunities. It discusses the evolution of hedge funds from nimble structures to large dominating entities, criticizing the current state where most value goes to funds rather than investors. The chapter also explores strategies like managed futures and the challenges of replicating hedge fund benefits for retail investors, emphasizing the quest to improve the asset management industry.