> Just goes to show you, for the thousandth time, that unless your
> name is Soros, Buffett, or Schwarzman, you can't beat the market.
There's a longer list of names than those three, but you make a good point: there are some people who seem to have a knack for it. Their popularity (and exclusivity) give rise to knock-offs who, as you've shown, bring the average down significantly (because they take the extra risk but don't deliver the reward).
So what you mean to say is that if you can only get into a crappy hedge fund, you're better off with an index fund. And sure, I'll agree with that.
But: so?
/jordan