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Feature Article

02/22/2017 - 2:53pm By: Zero Hedge

With cross-asset correlation plunging and stock dispersion soaring, conventional wisdom on the street predicted that after 7 years of underperformance, 2017 would finally be the year in which hedge funds demonstrated why they are paid 2 and 20.
Alas, it was not meant to be becauase as Goldman reports in is quarterly hedge fund Trend Monitor report, six weeks into the year, the strong equity market has lifted the average hedge fund to just a 2% return YTD, once again underperforming the broader market YTD by more than 50%, while macro funds have generated a 0% return YTD. That said, not everyone is sucking, and the typical equity long/short hedge funds has fared relatively better (+4%), boosted however not so much by stock picking, but due to near record leverage...

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