It’s not impossible in practice at all. It just turns out that when the Fed pumps all risk assets for 15 years, nobody really wants to be hedged (until, of cour

It’s not impossible in practice at all. It just turns out that when the Fed pumps all risk assets for 15 years, nobody really wants to be hedged (until, of course, they do). Hedge funds are in the game of absolute returns. And it turns out that many investors time horizon for absolute returns is shorter than it should be.