There's No Good Reason to Mimic a Hedge Fund

They tend to blow up when you least expect it.

Then again, you might wind up with one of these.

Photographer: Harold Cunningham/Getty Images

Everyone seems to be talking about this paper by Mikhail Tupitsyn and Paul Lajbcygier of Monash University in Australia. The paper is about hedge funds. Gawker writer Hamilton Nolan and Vox writer Matt Yglesias both say that the upshot of the paper is that hedge funds are a scam. 

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