Pre-1998, When No One Really Cared
Pre-1998, there was not a lot of interest in hedge funds as an asset class. A small number of very-high-net-worth individuals found managers principally by word of mouth or informal networks of promoters who raised capital for specific funds. In spite of some of the notoriety achieved by Soros and Tudor Jones related to profiteering during market crashes or currency crises, most people and certainly most institutional investors had very little knowledge about the sector.
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