(Harvest) The dismal performance, redemptions and shuttering of some hedge funds have received significant media attention in the past two years. Given that the widely followed benchmark, the S&P 500, has been on an unprecedented bull run during this time, it is easy to mock the underperformers and complain about the exorbitant fees charged by hedge funds as a group. However, what people and the media often forget is that hedge funds as an asset class generally tend to underperform during a bull market. And even though some hedge funds have been underperforming,

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