2015 Reprint of 1931 Edition. Full Facsimile of the original edition. Not reproduced with Optical Recognition Software. "Although the creation of the first hedge fund is usually credited to Alfred Winslow Jones, researches have recently discovered older indicators of hedge fund activity. The oldest source so far identified seems to be a book entitled "Scientific Forecasting" In it the author, Karl Karsten, summarized most the key principles of running a hedge fund." Hhabitant "Handbook of Hedge Funds."