Your point about diversifying beyond public markets should refer to private equity, not hedge funds. More and more over the last decade, the correlation of the

Your point about diversifying beyond public markets should refer to private equity, not hedge funds. More and more over the last decade, the correlation of the public markets and hedge fund returns have increased significantly. Of course, this shouldn’t happen given the name “hedge” fund. Further, an increasing number of hedge funds are shutting down as their fee structure it too high, and they are being increasingly copied by mutual funds (e.g long short and global macro funds). So, while I agree with your disdain at the public outcry toward hedge funds, I’ve found they are less and less useful for wealthy investors due to what I mentioned above.