Hedge funds are doomed
Here is an article on why hedge funds will fail because of their high leverage. Even though there are tons of inefficiencies in the market. High leverage means failure long run.
http://www.themoneyblogs.com/steve/my.blog/the-probability-of-the-highly-improbable.html
http://www.themoneyblogs.com/steve/my.blog/the-probability-of-the-highly-improbable.html