FYI: As I recently observed, hedge funds began 2018 coming off their ninth-straight year of trailing U.S. stocks (as measured by the S&P 500 Index) by significant margins. And for the 10-year period ending 2017—one that included the worst bear market in the post-Depression era—the HFRX Global Hedge Fund Index produced a negative return (-0.4%), underperforming every major equity and bond asset class.
Regards,
Ted
http://www.etf.com/sections/index-investor-corner/swedroe-hedge-fund-activity-no-gauge
