%0 Journal Article %A Magnus Könberg %A Martin Lindberg %T Hedge Funds %B A Review of Historical Performance %D 2001 %R 10.3905/jai.2001.318999 %J The Journal of Alternative Investments %P 21-31 %V 4 %N 1 %X In recent years, various hedge fund strategies have shown wide swings in returns. In this paper, the authors show that this performance should have been expected. A review of performance under similar economic conditions in the past showed similar results. However, results also show that portfolios using alternative investments are more consistent with future portfolios under a wide range of market environments than portfolios composed only of traditional investments. %U https://jai.pm-research.com/content/iijaltinv/4/1/21.full.pdf