Seth Klarman: Hedge Fund Closures Are Throwing Up BargainsRupert Hargreaves
Hedge funds couldn't catch a break in 2019. While the industry posted some of the best returns since the financial crisis last year, most funds still lagged the market.
According to data group HFR, hedge funds recorded an average return of 10.4% last year. That's well behind the S&P 500's 31.5%.
Also see Klarman’s thoughts from the letter on
For comparison, the average hedge fund lost 4.8% in 2018, slightly underperforming the market, which returned -4.75%, including dividends.
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