Long-Short Equity Handbook

Long-short equity is the oldest and most prevalent alternative strategy around. The concept dates back to 1949, when Alfred Winslow Jones established the world’s first hedge fund. Since that time, long-short equity strategies have proliferated within both hedge fund and separate account structures and have more recently migrated to registered vehicles like mutual funds and exchange-traded funds. While there are notable differences between the various structures,

these funds take both long and short positions in equities (individual stocks, options, or ETFs) with the intention of damping downside risk.

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