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I don't check out act.
Find that hedge funds underperformed the -- market yet again in the first quarterly -- -- -- story Max behind I think.
I'll tell you all your viewers should be very encouraged by this report because if you just bought an S&P 500 spider you would have done better than the big guys some Wall Street and here's what's going on.
The first quarter performance for hedge funds is worse even worse than last year's performance.
And both the first quarter last year performance led the S&P.
BS -- 10% these guys are only have 34%.
Lester they're up about 6% the SP was up 6%.
So what I want to show you is.
The big guns down low we -- is up only 9% still under -- yes and they look at his -- -- show you here.
We know Yahoo! we know Japanese macro of course that's a bad and -- a cut to 25.
Change an energy plan LNG gas and also Virgin Media I wanna share the losers and I wanted to bill -- and I -- to get to David Einhorn because these guys came in at 6% again underperforming the S that they.
Now the word is out on the street well hey you know they sold stock and maybe they've bought commodities more than bought the dollar and this is not really know the stories what -- more complex than that when he talked of Goldman Sachs and -- to Credit Suisse.
They're saying -- just have bus exposure to stocks but they borrow less amplify their -- there were too cautious because they got burned in 2011.
And they've -- they're going long a number of stocks are gonna see for example Einhorn is going long GM.
Big bet on that and he's also going long apple sold that supplies here that these -- is sitting tight.
And it's a hidden their portfolios now but -- long -- in here -- Dragging down their gains outside it's a heck of a story because again if they repeat port 23 team.
This first quarter -- you guys -- -- This admit -- five years well -- ears -- the hedge -- crowd has underperformed the S&P 500 wow so that's a big deal also outplayed again and again you know you guys know how to do that hold in May just buy an S&P 500 spider and kitty these guys -- -- -- that with all the fees you're at -- no kidding -- this.
Under performing -- of great kind of -- I would just have Lindsey do it manually I don't know anyone -- cabinet please.
Einhorn has been beating he's been up like 22% through 2010 okay and but these other but the average for the whole group according to HH FR hedge fund -- -- company.
Companies saying the industry average is being dragged down and industries not doing well -- answering all their interest and -- -- stuff and things -- I sure appreciate it it's.
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