Hedge funds got some bad news early today as BAML pointed out that BTD no longer works - but it just got worse as another big bank has issued a note on a different issue hurting fund performance.
Also see
Tyrian Investments Closes - Second Tiger Cub Within .
Q3 2016 Hedge Fund Letters
With hedge fund closures set to hit their highest level since 2008, with many of the shutterings being blamed on underperformance combined with high fees, the chronic underperformance that occurred once again in November is a troubling trend extension.
With the S&P 500 up 3.42% in November, US hedge funds generally underperformed, a Morgan Stanley Prime Brokerage report shows. The average performance for all US...

