In the mid-1990’s, the Lookout Mountain Hedge Fund Review was a lonely voice making the critical distinction between true and nominal hedge funds. Decades later, the ambiguity about what a hedge fund “is” remains, and is encouraged by some. This site is intended to provide needed clarity.

While some articles from LMHFR’s old print editions are available here, they are quite dated, so accept only their most salient points. These articles were extraordinarily rare in pointing out the distinctly different risk/return characteristics for true and nominal hedge funds.

To the degree you may find these articles of interest, you are welcomed to forward them with attribution.