The strategy you've been locked out of, adapted for retirement money.
Hedge funds run actively managed risk: cash positions, hedges, the ability to step out of the way. The most successful hedge fund in modern history averaged roughly 39% per year, net of fees, since 1988.† The S&P 500 averaged about 11% over the same span. You will never invest in it. Nobody outside Renaissance has been allowed in since 1993.
The other top hedge funds are technically open. The door is $5M+ in liquid net worth. So most 401(k)s and IRAs default to one strategy: index it, and wait. There's a third path almost nobody walks you through. It lives inside the accounts you can already hold.
Dr. Adam Link, CFP® · Fireweed Capital · Fee-only fiduciary · MN-based
30-minute conversation, no sales pitch
Where you are today, where you want to be, and whether the third path fits. No accounts to open, no documents to bring, no obligation. Virtual by default; phone on request. Past performance does not guarantee future results.
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Why the third path exists.
Three approaches to a retirement account. Most retail investors only ever see two.
Buy & Hold Indexing
Low-fee · open to anyone
- Vanguard, Fidelity, target-date funds, traditional advisors
- Always fully invested · minimal trading · tax-efficient
- Goal: track the market via diversification
- When the market drops, your account drops with it. The plan is to wait it out.
Actively Risk Managed
Higher fee · open to retirement accounts
- Portfolio Medics AMP portfolios, fee-only fiduciary
- Tactical allocation · structural ability to step toward cash · daily-trade flexibility
- Aim: manage risk across market cycles, including drawdowns
- Built for people who would pick a more aggressive risk-management posture if they had access, and don't.
Hedge Funds
2-and-20 · qualified purchaser only
- Long/short · leverage · derivatives · quant models · market-neutral
- Decades of strategies built to make money when indexing can't
- Goal: returns independent of market direction
- Closed to you. Typically requires $5M+ liquid net worth and qualified-purchaser status.
† Renaissance Medallion average annual return of approximately 39% net of fees, 1988 to 2018, documented in SEC filings and academic analysis (Cornell, B., “Medallion Fund: The Ultimate Counterexample?” Journal of Portfolio Management, 2020). Cited to illustrate the strategy class, not as a claim about Fireweed Capital, Portfolio Medics, or any return Fireweed clients should expect. Hedge-fund 2-and-20 fee structure per Preqin / SEC adviser brochure database. See fee & disclosure drawer below for full advisory-fee detail.
Optional: brief Adam ahead of the call.
If you've already grabbed a slot above, this gives Adam a head start so the 30 minutes goes straight to the substance. Skipping is fine; we'll cover the same ground on the call.
Dr. Adam Link, CFP® · Fireweed Capital · Fee-only fiduciary
Doctorate in Computer Science · Minnesota-based, serves clients statewide via virtual meeting
Fee & disclosure detail
Advisory services through Portfolio Medics, LLC, an SEC-registered investment adviser. Fireweed Capital is the brand under which Dr. Adam Link offers advisory services and operates as an insurance agency. Advisory fees through Portfolio Medics are approximately 2.0 to 2.6% per year on assets under management, billed quarterly. The 30-minute conversation itself is free. Higher fees do not guarantee better performance and reduce client returns. Nothing on this page is investment, tax, or legal advice; it's an invitation to a consultation. Past performance does not guarantee future results. No investment strategy guarantees protection from loss. Renaissance Medallion is referenced solely to illustrate the strategy class hedge funds operate in; Medallion has been closed to outside investors since 1993, and citing its returns is not a representation of any return Fireweed clients should expect.
Reviewed: 2026-05-18 · Status: PENDING_REVIEW · Hash: 2026-05/PENDING-MARKETING-REWRITE