[FabHK]

> This is why hedge funds underperform indexes in bull markets but beat them in turbulent times.

Agreed on the first part; I’d want to see hard statistics (after fees) on the second part (and, no, citing the 3 or so famous exceptions that are closed to outside investors and might have used illegally obtained insider information doesn’t invalidate the larger point).

[manigandham]

Hedge funds trade gains for consistency. They don't publicly report numbers though and aren't meant to be public funds (that's what ETFs are for) so it's hard to get full stats, but it's common knowledge in finance.