"It is difficult for this hedge fund to say clearly what a hedge fund is in a few words. What you just said is true, but it is not comprehensive. Hedge fund is a private equity fund at first, and it has three other characteristics:

First, hedge funds can generally use leverage to some extent. For example, if you manage one billion dollars, you may actually manage two billion dollars or one hundred billion dollars. 1998 When the long-term capital crashed, their leverage reached 100 times.

The second feature is that the concept of this hedge fund is mainly based on * * *, which is a very interesting thing. There is no need to short. Now some funds only do long-term work. If he feels that the market is not good, he can use the index to hedge, but he is not required to hedge, but he has the opportunity, and he can't do it with the fund.

The third feature is that the fees of hedge funds are generally higher. Generally speaking, for example, 2% management fee and 20% management fee are called sharing fee. In this case, there are various types, some specialize in stocks, and there are two ways to do stocks. One is to only make long-term stocks. Where the market is good, he hopes to find the best one every year. Second, there are long and short, for example. There is also a more quantitative, such as using some statistical models.

From the characteristics of this investment income, there are two kinds, so I think this is misunderstood by many people. One person thinks that this hedge fund should be long and short, so there should be very, very small changes. This is a hedge fund. It should be said that 20% or 30% people are doing this, and his income may not be high. For example, I have been doing it for more than ten years, and we will probably keep all the records. There is another way, he only asks for returns, so his fluctuation range may be very high, maybe up and down by 20% or 30% every year, but his income can reach 30% or 40% every year, so this is also a different way for hedge funds.

This hedge fund also deals in a wide range of financial products, so basically all the financial products it can think of are made by hedge funds, either together or alone. For example, some people specialize in making money and are also hedge funds. Some people specialize in oil, rice and beans, and they are also hedge funds. Some people specialize in stocks, some people specialize in bonds, and some people specialize in running first. "

There are two holes in the pig's nose, and Niu Niu has a runny nose when she catches a cold. The pig's ears are so big that I can't hear you calling it stupid. Do you know what a pig is