Study says hedge funds aren’t a replacement for traditional funds

Real life doesn’t always live up to our expectations.

It might be the ”dream job” that comes with unforeseen nightmares, or the fabulous vacation spot that leaves some visitors surprisingly nonplussed, or the big lifetime celebration — such as a wedding — that is remembered more for big bills or family fights than for the love and joy of the moment.

In investing, the security atop many wish lists is a hedge fund, a private investment pool that is the domain of big institutions and people the financial-planning community describes as ”high net-worth investors.”

For everyone aspiring to be a high net-worth investor — and who isn’t? — hedge funds are sometimes seen as a sign that you have ”made it.”

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