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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (23910)	12/31/2004 10:30:18 AM
From: ild	Read Replies (2) \| Respond to of 110194

As the public and foreigners are net sellers of US equities, it leaves the hedge funds as the only who have created this rally. EDIT: Big November Lifted Returns of Hedge Funds By HENNY SENDER Staff Reporter of THE WALL STREET JOURNAL December 31, 2004; Page C1 For most hedge-fund managers, a terrific November helped salvage an otherwise lackluster year. Hedge funds, the sophisticated investment pools that continue to grow in popularity, struggled in 2004 to put in the kind of performance that has attracted hordes of new investors. With a 2.65% gain in November, the CSFB/Tremont Hedge Fund Index is up 7.91% for the year, while the S&P 500-share index's total return through that period was 7.23%. online.wsj.com A recent report from J.P. Morgan Securities asks whether hedge funds "have become so large that they have eliminated the opportunities they are seeking to exploit." The report then describes many popular hedge-fund trades, concluding that the more capital hedge funds devote to these trades, the more excess returns can be expected to disappear.