This bet remains the worst possible framing of a question "can hedge funds provide value?". Some do, more don't. Active investing is negative sum so unless yo

This bet remains the worst possible framing of a question "can hedge funds provide value?". Some do, more don't. Active investing is negative sum so unless you've got some pretty good reasons to believe that the specific active manager [fund] has a market beating methodology then you should not be touching them. Investing in a basically un-curated basket of hedge funds is a bad idea full stop and it was crazy to take the other side.