Surprisingly enough, the financial crisis of 2008 has put a bright spotlight on hedge funds once again. In fact, Title IV of the Dodd-Frank act of 2010 places a host of additional regulations on hedge funds through modifications of the Investment Advisor Act of 1940. Yet, hedge funds had little...

There has been a substantial amount of research on whether mutual funds, and to a lesser extent, hedge funds have the ability to time the market. All of these studies have focused on market timing in the sense that they can correctly position their portfolios for a positive or negative movement...

In the last 20 years, the amount of assets managed by quantitative and qualitative hedge funds have grown dramatically. We examine the difference between quantitative and qualitative hedge funds in a variety of ways, including management differences and performance differences. We find that both...