Hedge funds are seldom out of the public eye for long. Top managers can acquire an almost legendary status within the financial community—and the asset class as a whole is often grabbing headlines. For most of their history, hedge funds have been associated with ultrawealthy and institutional investors that had the scale and resources to source and monitor managers. That has been changing, as they have become easier to access by a wider group of investors. And the benefits of adding hedge funds to a portfolio can be considerable—with such funds potentially offering greater downside protection, alternative sources of return, and diversification. But what are they and what exactly do they do? Find out in this edition of The 10 Spot!