According to Goldman's research to date, just 11% of hedge funds have beat the simple S&P 500.
To date, the S&P 500 is up just about 12% and the average hedge fund is up 4.6%. I am not sure if that includes their hefty 20% fee for managing your money so wisely :(
To make matters worse, 20% of hedge funds are negative for the year and these are the geniuses that many pension funds trust their money to invest and do well.
Lastly their two biggest holdings are Google and Apple, while that's good, they are both winners, it's most likely they recently bought them and are not and have not been long term holders which doesn't bode well.