Hedge funds unsurprisingly had their worst month of the year in May, but most avoided huge...

|By:, SA News Editor

Hedge funds unsurprisingly had their worst month of the year in May, but most avoided huge losses (the S&P 500 lost 8%) through such approaches as careful hedging and short positions. David Einhorn's Greenlight Capital was up 0.4% for the month, with a heavy long position in gold.