Average hedge funds underperform, top funds show promising returns.
Investment funds like hedge funds and mutual funds offer a way to make money from capitalism. Hedge funds have been growing fast, and their trading strategies are now being used by other types of funds and regular investors. When picking the best funds, it's important to consider things like non-normality and order statistics. The average hedge fund hasn't done that well in the past 10-15 years, but the top funds seem to have positive results.