2014 was a challenging year, and perhaps for nobody more than the marquee hedge fund names of the past several years, which for the 6th year in a row underperformed the S&P 500 despite once again raking in billions in "performance" fees.
Then again, with a roster of names in which the worst performers of 2014 were the Russian Prosperity Fund and, once again, Paulson "Advantage Plus" fund, the best were Pershing Square (whose outperformance was largely due to an arguably illegal "activist" collusion with Valeant) and something called the "Tulip Trend Fund", and where "Keynes Leveraged Quantitative Strategies" (no really) returned a solid 2.4% YTD, is it any wonder that the entire hedge fund industry is merely the latest farcical consequence of a centrally-planned market in which the central banks themselves are now the Chief Risk Officers (as in, making sure there is no more Risk ever again).
Here are the best and worst hedge funds of 2014:
[4]
The performance of the most prominent hedge fund names of 2014:
[5]
