According to the Wall Street Journal, hedge funds are coming off their strongest month in more than three years in April 2009. The Morning Star Hedge Fund Index rose 3.4%.
Nadia Papagiannis, Morningstar hedge fund analyst,
"Over the last two months, the bulls have dominated the markets, and stories of green shoots in the economy colored the financial media. Many hedge fund managers weren't confident in the sustainability of the rally, and invested with a more conservative market exposure."
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