When you are charging the earth for a service that's as old as the hills, you have to be pretty creative with your marketing.
The glorified money managers of Mayfair & Connecticut coined a whole new lexicon.
The original definition of hedge fund investing ought to be simple enough: a fund manager who "hedges" against the risk he might blow all your money - offsetting one bet with another in the opposite direction.
But just in case we didn't believe the magic trick, they made a few more enticing claims: funds were sold as "market neutral", promising "capital preservation" and "absolute return" regardless of what happened elsewhere.
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