Pension Pulse takes home the prestigious CLOD with:
...The real good news for hedge funds is that the markets keep grinding higher.
Most hedge funds charge alpha fees for leveraged beta. Sure, they package it nicely, slap on some "risk management" and peddle it through a network of salespeople, but at the end of the day, it's "diguised beta".
They also got the politicians in their back pockets so I do not expect any major regulatory reforms. And while they collect 2 & 20 for their "alpha", the rest of society watches the stock market and their portfolios go up and down like a yo-yo....
From his post "Good News for Hedge Funds?".