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Alfred Winslow Jones
"There are many illusions about short-selling. One is that the practice is immoral or antisocial. Another is that it's dangerous."
Alfred Winslow Jones, more academician than investor, founded the first hedge fund in 1949, fashioning it around core tenets that persist to this day. A fierce believer in (reasonable) leverage, he preached (and practiced) the gospel of long-short stock portfolios. He charged a 20 percent performance fee — unheard of
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