We're also seeing hedge funds taking advantage of thin market conditions as we often see as we get to the end of December. And so basically, that's why we get these whippy moves.

Schwab is likely banking on a market recovery and boosts to hedge funds in the mutual fund shakeout, ... And hedge funds trade the three drivers of the economy -- tech, health care and financial -- more actively.

Hedge funds are heavily weighted towards the small and mid-cap end of the market. With flows to hedge funds being the same order of magnitude as flows to mutual funds, small- and mid-caps' strong performance is no surprise.

We are also in the grips of liquidations by hedge funds and a lot of dealers don't want to see big exposures,

Given the reality of the contemporary retail market, it seems sensible to permit the marketing of funds of hedge funds.

Registered funds have opened up hedge funds to a broad audience.