An article in the Economist magazine remarks that the average hedge fund is unlikely to earn more

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An article in the Economist magazine remarks that the average hedge fund is unlikely to earn more than the average mutual fund, and “since their fees are higher, the result will be disappointing returns for the average investor.”

a. What is a hedge fund?

b. Are “average investors” able to invest in hedge funds? Briefly explain.

c. Why are the fees hedge funds charge higher than the fees mutual funds charge?

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