Here's the stock market performance for the SP500 names in the portfolios of a select group of hedgefunds and all 3500 managers who filed 13fs in Q3. Sure some portfolios have changed since then. (Do you think John Paulson is still so long C and BAC?) As you can see, the average hedge manager did just about as well (on the big cap long side) as the Average Joe manager and the average SP500 stock. Even I am a little surprised.
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