> If I'm a sophisticated investor, I may want to invest in funds which hedge against tail-risk Do tail-risk-targeting hedge funds have a better incentive than

> If I'm a sophisticated investor, I may want to invest in funds which hedge against tail-risk Do tail-risk-targeting hedge funds have a better incentive than 2-and-20? Honest question, I have no idea. I assume 2-and-20 drives shooting for the moon and closing the fund if it doesn’t work out.