Hedging for Cheapskates

摘要

With $1 trillion of assets and counting, hedge funds are all the rage, not least among people who think the market is in for several rough years and want a way to hedge their bets. They are fans of the long/short hedge fund style, in which the money manager buys some stocks long and sells others short. Pick the right stocks and you can make money in a sideways or even a down market with this approach. Indeed, it was a long/short strategy that got the hedge fund industry going a half-century ago under the pioneering A.W. Jones.