February 1994 - In one of the earliest appearances in television history about hedge funds, E. Lee Hennessee appears in this CNBC TV appearance discussing hedge funds in their infancy, as well as the exploits of Hedge fund management legends George Soros, Julian Robertson, and Michael Steinhart. Ron Insana asserts that stock selling by hedge funds caused the decline of the markets during January and February of 1994. Hennessee gives a detailed history of the industry and details the trading styles of respective maagers. Hennessee answers the question "What is a hedge fund?" evidencing her place in history at the inception of the then burgeoning industry. She discusses central banks' roles around the world in studying the impact of hedge funds on stock and bond prices.