Antoine Gara , FORBES STAFF

President Trump's big win on taxes has spared hedge funds and private equity funds the loss of their favored loophole, the carried interest tax deduction. Apparently, the "carried interest lobby" in the Washington was just too powerful for Trump, chief economic advisor Gary Cohn, and Treasury secretary Steven Mnuchin to overcome.

But the Trump tax plan, particularly the structure of its corporate tax cut, may have an even bigger impact in hedge fund and private equity land. It may spare these investors from their own stupidity. More...