Hedge Funds have had their worst year since the Financial Crisis. Performance is down for a variety of reasons and this was before the October bout of market volatility. What is interesting, though, is that the traditional pitch of such funds is their lack of correlation to markets which should mean they are well placed to perform well in downward markets. In reality, Goldman Sachs point out the top 5 stock holdings of discretionary Hedge Funds are Microsoft, Amazon, Facebook, Google and Alibaba.....hmmmm.....