The top 100 hedge funds averaged a return north of 10.5% in 2015, and the three-year average is a tad below 17%. Meanwhile, there are a lot of equity-long-short funds, indicating that good stock pickers are still around.
October is usually a bad month for equities but this has been one of the best thanks to the promise of more stimulus measures from the European Central Bank, a rate cut in China, and low or negative interest rates elsewhere. A slightly more hawkish Fed on Wednesday and the Bank of Japan's decision to refrain from expanding the pace of money printing on Friday spoiled the party a little.
A deal that allows thousands of companies to transfer data from Europe to the United States is invalid, the highest EU court said on Tuesday in a landmark ruling that follows revelations of mass U.S. government snooping.