Can anyone explain what a "hedge fund" is in simple terms?

Please avoid too much financial jargon as I was an english literature major and failed my economics class, lol. I always hear the term "hedge fund" when a financial scandal is involved such as "insider trading" or "wiretapping", why? Finally, can you give an example of a "hedge... show more Please avoid too much financial jargon as I was an english literature major and failed my economics class, lol. I always hear the term "hedge fund" when a financial scandal is involved such as "insider trading" or "wiretapping", why? Finally, can you give an example of a "hedge fund"? THANKS!
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