Hedge Funds That Don’t Actually Hedge Are Killing It This Year (Institutional Investor) Light Street, Tiger Global are among many hedge fund firms whose long-only funds are outperforming. In a very volatile year marred by a bear market, several of the best performing funds managed by hedge fund firms have been ones that do not hedge – specifically, long-only funds.Many of them have overcame and erased a huge early sell-off and are now beating the major stock market…