I would think account size (and dollar return for that matter) would be relevant in this thread. I don't have the full year results but it appears the average hedge fund had mediocre returns in 2010 and underformed the low double digit returns (around 13%) of the S&P. While I by no means have the account size of the typical hedge fund and even though I outperformed the S&P in 2010, I know I sure can't churn out the returns I had when my account was below seven figures.

