Not defending this fund or any other hedge and I do not know the defined purpose of this fund but they generally exist to hedge your risks and are not there to beat the S&P500. Thats why they exist for accredited investors and not your regular investor saving for retirement.
They are called “hedge funds” because, as opposed to other stock funds they were allowed to take short positions while mutual funds could not, and so they could hedge some of their risk.
Yes but what market? That was my point, nothing to do with why they are named as they are. Sure, many in the 2-20 bubble had this weird existence where they did not really do much but in general its hard to make a statement about their AUM and returns compared to the S&P500 without know what they were trying to achieve.
