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Opalesque industry updates - Hennessee Group LLC, a consultant and adviser to direct investors in hedge funds, announced today that the Hennessee Hedge Fund Index advanced +1.8% in November (+22.2% YTD), while the S&P 500 rose +5.3% (+20.8% YTD), the Dow Jones Industrial Average increased +6.5% (+17.9% YTD), and the NASDAQ Composite Index advanced +4.9% (+36.0% YTD). The Barclays Aggregate Bond Index advanced +1.3% (+7.6% YTD). “Hedge funds underperformed the broad markets in November as momentum continued to push security prices higher,” commented Charles Gradante, Co-Founder of Hennessee Group. “We believe the market is close to entering the next phase, where stock prices will be driven by earnings, rather than multiple expansion. This would be a better environment for hedge funds, and we expect them to outperform in 2010.” Corporate website: Source - FG |
