Hedge Funds Are Losing Their Edge in a World of ETFs
I’ve lost count of the praise heaped on US hedge funds for their “historic performance” in April on artificial intelligence-related bets and alleged foresight of a ceasefire in the Iran war. The fact that one month’s performance was so celebrated, particularly when hedge funds as a group generated less than half the return of the broad US stock market last month, shows how little investors have come to expect of them.
I’ve lost count of the praise heaped on US hedge funds for their “historic performance” in April on artificial intelligence-related bets and alleged foresight of a ceasefire in the Iran war. The fact that one month’s performance was so celebrated, particularly when hedge funds as a group generated less than half the return of the broad US stock market last month, shows how little investors have come to expect of them.
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