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Article: Hedge Funds: Wall Street's New Bogeyman
- Article from:
- AP Online
- Article date:
- May 22, 2005
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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MICHAEL J. MARTINEZ, AP Business Writer
AP Online
05-22-2005
Dateline: NEW YORK
Graphic shows performance of selected hedge funds this year with definitions in the larger version. (AP Graphic)
It's become very popular to blame once high-flying hedge funds for an array of Wall Street's ills, from rising oil prices to the market's April slump. And why not? They're unregulated, have grown enormously in dollar terms and yet, on the whole, they're failing to produce solid returns so far this year.
A hedge fund is a kind of mutual fund that requires a large initial investment, and has been traditionally aimed at the wealthy. Hedge funds don't invest in a stock or bond and hold it the way most ...