Capocci, Daniel; Corhay, Albert; Hubner, Georges - In: The European Journal of Finance 11 (2005) 5, pp. 361-392
This paper tests the performance of 2894 hedge funds in a time period that encompasses unambiguously bullish and … important biases in hedge funds studies, despite the high attrition rate of funds observed in the down market. An original ten … most hedge funds significantly outperformed the market during the whole test period, mostly thanks to the bullish subperiod …