Now, here's the badnews...

We have all heard it. Hedge funds are a way to preserve capital, the way forward, the ability to make money in rising and falling markets. It sounds great, but beware there are almost as many lemons out there as cherries.

This month Hedge Funds Review went in search of the dogs of the industry - bad performers over the past year or two and those that investors would have been better off ignoring.

However, much of the credit for the guts of this story must be given to Jacob Schmidt, who at

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