Today some 7,000 hedge funds in the United States command an estimated $750 billion to $1 trillion in assets and leave a wide footprint in the financial markets, as they are believed to account for as much as 20 percent of all U.S. stock trading.
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The month is October the year is 1988. As the underdog Los Angeles Dodgers are shocking the Oakland A's in the World Series, Progressive Insurance (NYSE: PGR) is trading at $25. Adjusted for splits and dividends, that's around $1.50 per share.
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