As usual, even as the pundits and the mainstream media are predicting the imminent demise of hedge funds, the industry is thriving - and some of its cohorts are even capitalizing on the current turmoil.
To be sure, hedge fund returns were alarming in April, falling by 1% on average, according to the Absolute Return database. And as we show in this issue, as of late May, investors were bracing for a reprise.
But hedge funds, lest anyone forget, are so named for their expertise in guarding against downturns. And that's saying nothing of