Losses at big-name funds startle investors
Those fine Reuters folks report that the first half of 2011 has been humbling for many of the $2 trillion hedge fund industry's biggest stars, with the likes of John Paulson, David Einhorn, and Louis Bacon losing money for their investors' money while underperforming the major U.S. stock market indexes.
At the year's half-way point, the average hedge fund was off 2.12 percent, preliminary data from Hedge Fund Research show. By contrast, the Standard & Poor's 500 gained 6 percent.
Only six months ago, few investors would have forecast that as of June 30, Paulson's flagship Advantage Fund would have lost 15 percent, or Einhorn's Greenlight Capital would be down 5 percent. Even Louis Bacon's flagship Moore Global fund, which has boasted average annual returns of 19 percent for more than two decades, was down 5 percent for the year through June 16….
Find out more at http://www.reuters.com/article/2011/07/05/ba-hedgefunds-performance-idUSN1E7600WH20110705
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