Hedge Fund Archaeology 101

When levered to the hilt was...150%

Rescued from the depths of antiquity — specifically, the April 1966 issue of Fortune — comes Carol J. Loomis’s profile of hedge fund pioneer Alfred Winslow Jones, rich with detail about how it was all done in the olden days.

...One big reason the hedge funds find it natural to move in and out of stocks a lot is that, far more than most other funds, they have a special ability to get a flow of good, fresh ideas about stocks from brokers — and get them early...

Ahem. Cough. Not to mention a shout-out across the ages:

[A Jones investor] also has money in...Buffet (sic) Partnership Ltd, a $45-million Omaha operation that uses hedge principles to some extent but that has mainly, and very successfully, concentrated on long-term investment.

The Jones Nobody Keeps Up With

by Carol J. Loomis

Fortune April 1966

Tug o’ the forelock: Joe Taussig and Stuart MacDonald

Entirely unrelated Jones news:

Tudor To Test Good/Bad Bank Model

by Bess Levin

Dealbreaker Dec. 1 2008
(Article includes link to Tudor BVI investor letter)

Comments

[300mph:]

Was there a point here?

2008 Dec 06 11:59 AM