Ouch! Hedge funds have been struggling lately. The chart below shows average hedge fund returns since 2011 for a number of different strategies, compared to the S&P 500.

Average Hedge Fund Return Chart

Source: Arbor Research

Back in 2008, Warren Buffett publicly bet $1 million (for charity) that the average hedge fund return would not beat the S&P 500 over 10 years. The results so far?

Buffett's Average Hedge Fund Return Bet

Source: RIAA

The group of hedge funds selected by Protege Partners is getting trounced by the S&P 500.