This stuff scares the heck out of me. A Hedge fund loses $5 billion of the $9 billion it had invested - IN ONE WEEK. Hedge funds are not inherently good or bad, however there is little transparency and more gambling than investing. San Diego County is not having a good couple years when it comes to pensions.
I don't recommend the use of hedge funds because they are for the most part very expensive, not transparent, and they tend to gamble more than invest.
Scott Dauenhauer, CFP, MSFP