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All About Hedge Funds, Fully Revised Second Edition, 2nd Edition by Ezra Zask

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CHAPTER 7History of Hedge Funds

Now that the basics are behind us, we are ready to explore the hedge fund world in all its diversity and complexity. It makes sense to start with a history of hedge funds and a description of the evolution of the industry from its early days to the present. The story here is of an industry that grew from a seedling into a full-blown tree in a relatively short amount of time. It is also an industry that was literally invented from broadcloth in a manner that is more reminiscent of high technology companies than of financial institutions. As with high tech companies, it earned fortunes for those who helped build the industry.

One of the areas worth exploring is the reason that hedge funds became so successful and ...

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