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U.S. equity hedge funds back on track in 2009

Despite their rational fears of imminent doom, the bears suffered in 2009.

Could two years be any more different? Despite their rational fears of imminent doom, the bears suffered in 2009, powerless to fight the liquidity-fueled rally and producing lackluster performance as a result. Meanwhile, 2008's losers rode the rally right back up, enabling them to mark up their formerly illiquid holdings.

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