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The Governance Revolution by Deborah Midanek

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Chapter 13 The Rise of Hedge Funds and Emergence of Aggressive Activism

You may recall that in the securities regulations that became law in the 1930s, hedge funds were exempted from registration with the SEC. What is a hedge fund?

While the it now covers many different types of investing, the term hedge fund generally refers to a private investment vehicle available only to accredited investors that may be created on or offshore but is frequently offshore. The hedge part refers to what was once the common investment strategy of going long with certain securities and short with others, aiming to make the result market neutral, as in unaffected by market movement, while capturing the positive difference between the two securities as profit.

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