(Bloomberg) Long-shorts had a good year in 2017. The HFRI Equity Hedge Total Index — an index of long-short equity hedge funds — returned 13.5 percent last year, its best performance since 2013. But as my Bloomberg View colleague Barry Ritholtz pointed out last week, it wasn’t good enough. The equity hedge index trailed the S&P 500 Index by 8.4 percentage points last year, including dividends. It was the ninth consecutive year that long-short hedge funds trailed the broader market, and the S&P 500 outpaced the equity hedge index by a stunning 8.1 percentage points annually over that period.
For Hedge Funds, the Bear Can’t Come Too Soon
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