FYI: Peter Hecht, Ph.D., Senior Investment Strategist for Evanston Capital Management, says he cringes when people from the investment community criticize hedge funds for lagging the S&P 500 amid a broad and historic bull market. Many of these same people were also unduly impressed by hedge funds’ relatively superior performance during the 2008 bear market, in Dr. Hecht’s view, since the nature of hedge funds dictates that they are more likely to underperform in bull markets and outperform in bear markets – they are hedged funds, after all.
Regards,
Ted
http://dailyalts.com/sharpe-ratio-best-metric-maximizing-portfolio-efficiency/
