Michael Sonnenfeldt, the chairman of “ultra-high-net-worth” network Tiger 21, has declared that hedge funds are “dead as a doornail,” as his members’ allocation dropped to just 2% — down 10 percentage points from 2008.
But for a wide range of return-oriented investors, hedge funds are still very much alive and well and a key part of a successful portfolio in this era of runaway stock valuations.