Are hedge funds malign financial firms that are exploiting and encouraging volatility? Or are they contrarian investors that lean against asset bubbles and make markets more stable? Chrystia interviewed Roger Martin of the University of Toronto’s Rotman School of Management and Sebastian Mallaby of the Council on Foreign Relations about the role of hedge funds in the economy, George Soros’s “gloriously schizophrenic personality,” and the lessons financial regulators can learn from the NFL commissioner: