2012-08-28 — forbes.com
``The numbers are truly terrible. Bank of America Merrill Lynch's investible hedge fund composite index shows hedge funds are up 1.85% so far in 2012. That means investors in many hedge funds are paying big fees for the luxury of getting creamed by the U.S. stock market, which has returned 13.8% in 2012, at least as measured by the Standard & Poor's 500 index. Goldman Sachs has put out a report showing that the average hedge fund is up 4.6% in 2012 and that only 11% of the hedge funds it tracks have beaten an ordinary S&P 500 index fund.''
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