Hedge funds don’t cultivate moral hazard—they expose it

Hedge funds are a force for good economics against the prejudice of ill-informed attack.

By Ian Morley

Contrary to the belief of my pet Labrador, I am not Jesus Christ—even though to him I may appear to perform the occasional miracle with food, water and dead bones. We have few moral dilemmas, although I trust him not to eat my food when I’m not looking and I suppose he expects me not to eat his either.

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