Forbes – During the past decade, hedge funds emerged from obscurity as the darlings of Wall Street. The industry’s outsized remuneration attracted the most talented financiers. And the ability to repeatedly earn hefty returns even in down markets allowed the industry to bypass its larger cousin – mutual funds – as the sexy investment vehicle of choice.
Soon, names like Ray Dalio of Bridgewater Associates and John Paulson of Paulson & Co. eclipsed the financial gurus of years past. Whether big or small, experienced or neophyte, investors no longer looked to figures like mutual fund king Peter Lynch of Fidelity Investments for wisdom.
