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During a family vacation, my son, who is a hedge-fund VP, joined me for a workout at the YMCA. When he showed up wearing his company’s intramural shirt, I couldn’t help but laugh out loud. The hedge fund’s team is named “The Fighting Betas.” 

I suppose I was the only one in the room who understood the double entendre, but truly, doesn’t that team name perfectly describe the team members’ job? They try to secure a return on assets that avoids correlating to a particular index or market, the so-called “beta.” If the hedge fund’s return doesn’t correlate with the targeted index, they have effectively removed some of the risk of being invested in such assets.

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