• Banks – Banks serve a couple of basic functions in modern society, chiefly holding on to cash for people or businesses (a liability since they have to be able to give the cash value back at any given time) and making loans to people or businesses (an asset since it represents predictable income). Banks will typically put the capital they are safeguarding to work by making investments.
• Funds – Investment funds like hedge funds and mutual funds pool large amounts of money from investors, and manage the investment of the pool. Mutual funds are closely regulated, available to the general public, and generally perform on par with the stock market. Hedge funds are private and therefore have fewer regulations, notably their ability to use borrowed money to enhance their assets.
• Individuals – Andrew Hall is an example of an investor who has taken a beating during the current oil price decline, but has more than compensated that loss by concurrently speculating on the dollar.