Fidelity follows dubious fad by opening 130/30 fund

``If it sounds vaguely familiar, that’s because it’s a twist on long-short funds and market-neutral funds, both of which brought certain qualities of hedge funds - notably a purported ability to make money in all market conditions - to ordinary mutual funds. Alas, the vast majority of those fund types have failed to deliver on their potential; most market-neutral funds have been extremely neutral about the market, unable to make decent money in all market conditions.''