IN DEBT WE TRUST

The first hedge fund was a guy hiding money under a hedge. Risk management used to be landscaping.

✗ FAKE
The first hedge fund is usually credited to Alfred Winslow Jones in 1949. The term hedge refers to hedging risk, not to a hedge in a yard.

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The first financial crisis started when someone said “this can’t possibly go wrong.” It went wrong immediately.The first credit card was made of wood. It declined constantly but looked artisanal.The first credit limit was determined by how much a banker liked your haircut.A “budget” was invented as a bedtime story to help adults fall asleep. It has never worked.The first insurance policy covered “acts of drama.” Claims were endless.The first budgeting tip was “cook at home.” The second was “cry less.”See all In Debt We Trust facts →

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