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Katherine About a year <a href=" http://www.imagetext.co.nz/essay-proofreading-services/ ">writing services online</a> To critics, hedge funds are secretive, risky, loosely regulated playgrounds for the super wealthy. And while the industry keeps expanding, its performance does not. This year could be the fifth in a row that hedge funds underperform the Standard & Poor's 500 stock index, according to Hedge Fund Research, or HFR, which analyzes the industry. That's an unwelcome reversal: For the 19 years from 1990 to 2008, hedge fund returns beat or tied the S&P 500 15 times.

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