Preliminary May returns show carnage among long/short funds

Thu Jun 1, 2006

Hedge funds, looking to extend the long-awaited gains reaped in the first third of the year, saw their dreams crushed by late May.

Following the best four-month performance run since 1999, the third week of May bludgeoned an overly bullish market, and especially long/short equity funds, as the year's major trends reversed. The bloodshed is reminiscent of last October, when a...


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