So much for all those Ph.D.'s , IVY league grads and others... And it's probably based on voluntary reporting , so real bad results and ones that went out of business are not in.
I heard a guy from Goldman at a talk on "Launching a hedge fund" yesterday say that most their clients were between 3 and 7 percent this year and you "don't need a track record to start a fund."
i think the name of the game for a lot of the young geniuses is to milk your investors. money always returns to its rightful owners. -- old Wall Street proverb. oh, and speaking of old proverbs, another one comes to mind: "there is nothing new under the sun."
Seems to me the majority of hedge funds are really sheep in wolfs' clothing. At this rate, they'll be doing worse than your average mutual fund in no time.