New York (HedgeCo.net) – The most recent BusinessWeek cover has a provocative take on what it calls “The Hedge Fund Myth.” Bloomberg’s cover story “Hedge Funds Are For Suckers” delves into the reasons one should avoid hedge funds.
“Hedge funds may have gotten too big for their yachts, for their market, and for their own possibilities for success.” Bloomberg’s Sheelah Kolhatkar writes, “After a decade as rock stars, hedge fund managers seem to be fading just as quickly as musicians do. Each day brings disappointing headlines about the returns generated by formerly highflying funds, from Paulson, whose Advantage Plus fund is up 3.4 percent this year, after losing 19 percent in 2012 and 51 percent in 2011, to Bridgewater Associates, the largest in the world.”
In a follow up article Bloomberg says that, depending on how you look at it, hedge funds have outperformed the S&P 500, and are actually, “Not Necessarily for Suckers.”
When asked about whether the placement of the arrows was intentional, Bloomberg Businessweek spokesperson Rachel Nagler said (according to Poynter): “Could be up to the reader to decide… but we do take great care to be very precise when creating our covers.”
The Credit Suisse Hedge Fund Index (the “Broad Index”) finished down 1.66% for the month of June.
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