Hedge Fund Performance since 2011

Bloomberg: "The chart below from Bianco Research of hedge fund shows returns compared with the Standard & Poor's 500 Index and the Barclays/Lehman Aggregate Bond Index. The underperformance of hedge funds is stunning -- and this is before fees, which would make the returns look even worse. Perhaps it's more than just an interesting coincidence that the rise of Zero Hedge’s popularity and its radical bearishness coincides with the collapse of hedge fund performance. Zero Hedge and whatever insight one can get from it probably isn't the cause of that underperformance. However, the Internet has created an environment where interesting, persuasive -- and money-losing -- commentary is but a single click away."