“The structure of hedge funds enhances financial stability, as hedge funds have no government backstop, no liquidity mismatch, and losses are siloed to an individual fund and its sophisticated investors,” Jillien Flores, MFA Head of Global Government Affairs, said in an emailed statement. Retail investors may unknowingly become victims of price manipulation, forced to buy at inflated prices or sell at depressed values, all while hedge fund managers profit from the discrepancies. The rise of multi-manager hedge funds like Citadel, Millennium, and Point72 presents significant risks to financial stability and retail investors alike.