The People’s Hedge Fund
Robin Hood Minor Asset Management Cooperative (http://www.robinhoodcoop.org/), the first cooperatively owned hedge fund, is another novel method of funding political activism. Unlike Enric Duran’s act of “financial civil disobedience” (see Spain’s Modern Day Robin Hood), it’s totally legal.
Founded in Finland in 2012, the main purpose of the Robin Hood Co-op is to use experimental investment technologies to expand the commons and public domain, while offering ordinary people access to income outside of paid work. Among its founding members are several former economics professors from Aalto University (who were fired for starting the Robin Hood Co-op). The co-op presently has over 350 members from 15 different countries and is valued at roughly half a million euros.
Like a hedge fund, the fund’s growth is based on the principle of producing new financial assets by hedging existing ones. Fund managers employ a data mining…
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