[Ntrails]

Do you have links to any of them out of interest?

There are hundreds of strategies in hedgefunds from HFT to Macro to volatility trading to commercial ground rents to God Knows What™ - so I'd really like to see what was being done for this kind of analysis (and who by and what data they had access to).

Past performance is a lot like the false positive problem in medical testing. A 99% correct test on a condition affecting 1% of the population is not useful. Similarly looking at past performance for a hedge fund is a poor way of identifying those with "alpha" (if you believe true alpha exists at all, which is entirely dependent on your point of view).

Take Mr Buffet as a spurious example. If he leaves the fund, it won't affect past performance for some time. So do you want to buy into B-H without him - just because it used to make money? Or would you go into his new fund because you think he has a process that works.