Faculty Publications


Hedge Funds For The Masses?: Let’s Hope Not

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A recent Barron’s article entitled “Interactive Brokers Offers New Take on Robo Advisers” (May 1, 2015) addresses bringing Hedge Funds to individual investors through its Covestor platform and is touted as a democratization of the hedge fund industry. This development allows Interactive Broker’s customers to choose a hedge fund manager to invest some of their funds. In most cases, having a broader investment opportunity set is an advantage to investors. Who can argue against additional choices for investors, particularly one that brings the talents of the Masters of the Universe to Middle America?