The father of the modern hedge fund

Alfred Winslow Jones is often cited as the creator of the modern hedge fund, and the two and twenty fee model loved by fund managers everywhere.

Unlike your typical fund manager, Jones did not come from a traditional finance background. A Ph.D. graduate from Columbia University, Jones’ Sociology doctoral thesis was published in 1941 as a book titled Life, Liberty, and Property. Soon after, Fortune magazine hired Jones to condense his book into an article. Jones would go on to become an editor for Fortune, writing for the publication for five years.