IN FEBRUARY it emerged that nearly half of the richest hedge-fund managers in Britain have donated a total of £10m ($14.8m) to the Conservative party since 2010. Labour, the opposition party, has accused the Tories of dishing out favours, such as a tax loophole, to their “hedge-fund friends”. Earlier this month it turned out that Labour too has relied on at least one very generous hedge-fund friend who has given the party nearly £600,000 since 2012. Hedge-fund managers are renowned for their investment skills and their wealth. But how do these “masters of the universe”, and the funds they control, really operate?
