[xenadu02]

To the extent that anyone is able to run a strategy that does beat the market:

a) they probably can't tell the difference between getting lucky and exploiting a niche

b) if they take on more capital their movements will be discovered and the strategy will fall apart

If you're well connected I'm sure you can eventually find a few funds trading on true insider info or novel strategies... but good luck getting in. As soon as the cat is out of the bag the party is over.

For the rest of us: forget it.