Alfred Winslow Jones was a financial journalist before he became a wildly successful investor who would be known as the father of the hedge fund industry. The moment of transition is captured in a March 1949 Fortune magazine article Jones wrote, titled “Fashions in Forecasting.”Whole thing here.
A brief intro to the piece mentioned that Jones’s “initial interest in the new methods of market analysis described in this article came from a small investment in one of the services mentioned,” an outfit known as Market Action. That gave a hint that Jones was inclined to be not only a journalistic observer of the investment world, but a participant.
Wednesday, October 27, 2010
How hedge funds began
My November article in Research magazine on "The Birth of Hedge Funds" is out, about how Alfred Winslow Jones created a new financial industry. The piece is online at the magazine's partner portal AdvisorOne. Excerpt: