Hedge Fund Performance this year and what it tells us

Foreign Exchange, Commodities and shorting the equity markets is where the money is this year :)

I am enclosing the hedge fund performance year to date in various categories

* Naturally funds shorting the market have made money.
**What's more interesting is that Global Macro has come back in a big way (it had been dying slowly through the last 10 years).. I take that to mean that commodities and FX have been making money. Even in I Banks those two are among the top money makers in this terrible year....
Also worth observing is that Equity neutral has made money. Stock pickers have had a field day... Contrarian trading strategies have also made money.

Strategy	Last Month	Year to date Return	Last Year
Hedge Fund Index	-3%	-2%	1%
Convertible Arbitrage	-2%	-8%	-7%
Dedicated Short Bias	3%	15%	17%
Emerging Markets	-3%	-6%	1%
Equity Market Neutral	0%	4%	7%
Event Driven	-3%	-4%	-2%
Distressed	-3%	-4%	-4%
Multi-Strategy	-3%	-4%	-2%
Risk Arbitrage	0%	3%	6%
Fixed Income Arbitrage	0%	-4%	-2%
Global Macro	-3%	6%	15%
Long/Short Equity	-3%	-4%	0%
Managed Futures	-4%	10%	14%
Multi-Strategy	-2%	-4%	-3%