Nir Kaissar, Columnist

If Hedge Funds Are Lagging, Why Do They Have So Much Money?

Investors are sticking with them despite a decade of underperformance.

February 19, 2019 at 7:00 AM EST

Nir Kaissar is a Bloomberg Opinion columnist covering markets. He is the founder of Unison Advisors, an asset management firm.

Two guesses: inertia or a gambling mentality.
Photographer: Brendon Thorne/Bloomberg

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By now it’s no secret that equity hedge funds have had a horrible decade. The real surprise is that a record $955 billion was invested in those funds at the end of September 2018.

Which raises the obvious question: Why are so many investors still hanging around?

Before it’s here, it’s on the Bloomberg Terminal

LEARN MORE