Recent legislation has lifted the ban on hedge fund advertising, and a few companies are dipping a toe in the water with lofty statements instead of direct appeals. Topturn Capital has created a three-minute digital ad that has its founders discussing how managing money is similar to surfing rocky waters. "Hedge funds are putting more stuff on their websites, but for right now there is very little general advertising. Most fund managers ... are not interested," said hedge fund lawyer Jay Gould.

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