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Yale endowment chief reveals truth about hedge fund failures

Chief investment officer David Swensen says savers are best off using low-cost index funds and diversifying globally

Yale endowment chief reveals truth about hedge fund failures

By now you've begun to notice a pattern in the news about hedge funds: Nobody is making money anymore, so managers are returning millions to disappointed investors, writes Mitch Tuchman for MarketWatch.

The latest to close is Eton Park Capital. But the decision by that fund's managers is hot on the heels of epic losses by previously high-flying funds.

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