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A Classic Carol Loomis Article on the Father of the Hedge Fund - Alfred Winslow Jones (1966)

March 25, 2013 | About:

In 1949 Alfred Winslow Jones and four friends formed an investment partnership—the first hedge fund—with Jones as the Managing Partner.

Alfred Winslow Jones was more of an intellectual than an investor. He was educated at Harvard and later received a Ph.D. in Sociology from Columbia where his dissertation was turned into a published book, Life, Liberty and Property: A Story of Conflict and a Measurement of Conflicting Rights.Throughout his life he remained interested in sociology and engaged in philanthropic endeavors, particularly the alleviation of poverty in the U.S. and abroad.

Investment management was Alfred’s fifth career when he started A.W. Jones & Co. at the age of 48.Earlier in his life, he was in the Foreign Service in Berlin, and then became an observer for the Quakers in the Spanish Civil War, monitoring civilian relief efforts. During World War II he was a writer and editor for Fortune Magazine covering a variety of topics from finance, to politics, to the war effort. By 1948 he had left Fortune but was working freelance for the magazine on an article entitled “Fashions in Forecasting.” It was during the research for this piece on technical stock market analysis that he began to formulate the ideas for his fund.

Alfred Winslow Jones - The Father Of The Modern Hedge Fund

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