Hedge Funds Would Be Doing Great If They Weren't Shorting Stocks

Even with the recent sell-off, the S&P 500 is up a respectable 15% since the beginning of the year. The average equity hedge fund, however, is up by just 4.1% through August 9. This is according to a new report from Goldman Sachs equity strategy team. Goldman's Amanda Schneider, however, notes that the large long positions of hedge funds -- as measured by Goldman's Hedge Fund VIP basket -- have actually done pretty well. It's the short positions that have been subtracting from gains. From Goldma...