April's dismal equity markets had a predictable effect on
equity-focused hedge funds, with many long-biased funds posting
losses and short-sellers racking up big gains for the month.
The S&P 500 lost 2.01% in April; while most hedge fund
indices posted losses in the long/short category for April,
they still outperformed the broad market indices.
Some savvy investors were even able to squeeze gains out of
the month's brutal conditions. Steve Mandel's Lone