Nir Kaissar, Columnist

For Hedge Funds, the Bear Can't Come Too Soon

Only a downturn can put them back in their comfort zone.

January 18, 2018 at 12:30 PM UTC

Nir Kaissar is a Bloomberg Opinion columnist covering markets. He is the founder of Unison Advisors, an asset management firm.

1516225160_GettyImages-633680256 — Photographer: Matthias Hangst/Getty Images for IBSF

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No one is more eager for the next bear market than long-short hedge funds.

Long-shorts had a good year in 2017. The HFRI Equity Hedge Total Index -- an index of long-short equity hedge funds -- returned 13.5 percent last year, its best performance since 2013.