Yes but what market? That was my point, nothing to do with why they are named as they are. Sure, many in the 2-20 bubble had this weird existence where they did

Yes but what market? That was my point, nothing to do with why they are named as they are. Sure, many in the 2-20 bubble had this weird existence where they did not really do much but in general its hard to make a statement about their AUM and returns compared to the S&P500 without know what they were trying to achieve.