More hedge fund investors are now finding this out the hard way. Man Group, one of the world's largest agglomerator of hedge funds, has lost 25% of its value as its investors have begun redeeming their investments. Even leading hedge funds can't get it right. Gee, that's just too bad. All of those whiz-bang models couldn't beat market benchmarks after all. Portfolio management skill is so genetically rare that those few people who do possess it - Warren Buffett of course comes to mind - happen to also be innovators whose wisdom is widely available for free.
No hedge fund will ever get my money.