Part 3/14:
To grasp the current landscape of hedge funds, one must delve into the history of US market regulations originating from the 1920s. During this period, a booming economy fueled rampant speculation, with individuals investing in dubious enterprises sans requisite transparency or oversight. This phenomena culminated in the disastrous stock market crash of October 1929, leading to the Great Depression—a profound crisis reshaping market perceptions and necessitating regulatory reforms.