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When co-founding 36ONE almost two decades ago, top SA money manager Cy Jacobs used the opportunity to launch a long/short hedge fund. Initially only for big clients, this massive outperformer was made available to retail investors six years ago. In this interview with Alec Hogg of BizNews, Jacobs explains how a classic hedge funds enjoy major risk and reward advantages over traditional unit trusts - and shares his latest perspectives on which parts of the investment markets are most likely to deliver superior returns.