Hedge Fund Investors Aren't as Dumb as They Look - Bloomberg View

Hedge Fund Investors Aren't as Dumb as They Look: Though returns have been poor, there is some evidence that they can help to reduce risk.

"Why invest in hedge funds? Citi says, "since the [global financial crisis], confidence that hedge funds can outperform the underlying markets has been strained and that more emphasis has been placed on their role in controlling volatility." But investors are happy enough to pay for that. An endowment manager quoted by Citi:"

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