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Mutual fund, not a hedge fund. Mutual funds tell you in the prospectus "here's the kinds of things we're going to buy" and "here's our strategy". With an index fund the strategy is "replicate the index while keeping just enough cash to cover redemptions." Hedge funds aren't that transparent.

@Alathon There is a difference between new money and old money. New money is trying to impress you. Old money just is. New money will buy something ridiculous so other people will look at it and be impressed. When old money buys something ridiculous they probably bought it because they liked...

We've always liked shiny status symbols which display our ability to waste resources with nary a care. I recently did a quick search to see about when various technologies were developed. Here goes: 2.6-3.3mya stone tools 1.7-2.0mya fire 780kya clothing (Homo antecessor) 500kya stone tipped...