1A.

Differences between hedge funds and mutual funds are that

		hedge funds are typically open only to wealthy or institutional investors.
		hedge fund managers can pursue strategies not available to mutual funds, such as short selling, heavy use of derivatives, and leverage.
		hedge funds are only subject to minimal SEC regulation.
		hedge funds are commonly structured as private partnerships.
		All of the options.

1B.

Use the following table. What is the value-weighted index return? Stock Price Today Price Shares Next Month MSFT 140 150 400 AAPL 220 180 300 JPM 120 90 100 70 75 100 -0.02 -0.04 -0.06 -0.08 -0.10