[sudhirj]

Aren't hedge funds often thematically a form of insurance? If I had a million, I'd probably put 80% in index funds, 10% in hedge funds that were shorting companies that would be negatively affected by global warming, 10% in hedge funds that were betting on another recession.

[ForHackernews]

At one time, they were a "hedge", but the term is an anachronism today.