Aug 07, 2012
Bloomberg Hedge Fund Index through July 31, 2012. While there may be room until most managers get back above their high-water marks -- eventually you run into the same core problem -- 2+20% of profits will be taken away from investors and go to the fund managers. Upside is therefore quite limited. Downside is limited as well but so is the case with a good, risk-managed allocation.
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