FOREX TRADERS

[Worn_Buffet]

& speaking of Hedge Funds....been meaning to ask....

all these funds goin belly up....I thought the whole idea/strat behind'em were to be a bet against the mrkt...thus net short equities. A true hedge vs the mrkt...thus the name.

What am I missen here? Surely I have it wrong or else these funds woulda fared quite well over the last yr or so showin phenominal gains. I always assumed hedge funds were net short the mrkt...or at least took up a fair % of opposing positions from that of their clients portfolios which for the most part are net long. Am I to understand it that all these funds in question were net long the mrkt....so much to the degree that they went belly up? If so, seems to me many weren't doin their job...asleep at the wheel...at least not net short to the degree they shoulda've been.

Wadda mess!!