February 28, 2012 11:26 AM

60 Minutes/Vanity Fair Poll: March Edition

  • Do you know what a hedge fund is?

Seventy percent of Americans said they did not know what a hedge fund is. Thirty percent said they did, but when asked to define the term many fell short of knowing. They shouldn't feel bad, the financial industry is notorious for making things more complicated than they need to be. In this case, they are funds that cater to the one percent and well-heeled institutions like pension funds and university endowments that understand that with great returns come great risk. Think of it as a high stakes poker game where if you have to ask how much a seat at the table costs, you probably can't afford it.




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