Morgan Stanley's Adam Parker has an update to a chart we've seen a lot lately.
It's the correlation between the the equity hedge fund index and the
As you can see, the correlation has been getting closer and closer to 1, which means that they're increasingly moving hand-in-hand.
However, hedge funds are notorious for charging extremely high fees.
Assuming this relationship holds, it's probably a lot smarter to just buy a cheap mutual fund indexed to the S&P 500 like the Vanguard 500.