Funds and FOIA: The Power of the Request
Hedge funds are using the Freedom of Information Act to generate legal, stock-moving information and alpha, reports a new study. But it’s not easy.
A trade is often only as good as the information on which it’s based. Some hedge funds have been searching for profit-spinning information in a less-than-obvious location: public, mostly federal information released by government departments and agencies known as Freedom of Information Act (FOIA) requests.