||Central Bank Of Barbados
“Mallaby provides an entertaining and authoritative retrospective on hedge funds, from their modest beginnings soon after World War II. He traces their roots back to J M Keynes himself, arguing that Keynes’ investment strategy over the period 1924-46 involved speculating in currencies, bonds and equities on a global scale, both long and short, using leverage, which is the principle underlying the hedge fund strategy. After World War 2 stable currencies and prices caused that particular investment strategy to die out, and hedge funds found other markets in which they could apply a similar strategy.
Book Review - In Defence of Hedge FundsA Review (June 2011).pdf