Per a number of studies referenced by Christopher Holt, who mentions that " Bridgewater CEO Ray Dalio was in the news again last week with this New York Times story on his concerns over the “high correlation” between hedge funds and the S&P 500 during the past few years"...
It would seem that the S & P 500 is a pretty good index, after all. If after all the scrounging for opportunities done by all of the hedge funds, they come up with returns similar to the S & P, that says to me that the index is a pretty good proxy for the market as a whole.
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