GuruFocus.com via Seeking Alpha via Naked Capitalism (whew... the power of blogs!) shows us that even the pros have been smacked around during the first half (and in many cases over the last year). As Yves puts it:
What is a little different about today's hedge fund sighting from Bloomberg isn't that certain funds or certain styles are faring poorly (remember the quant disasters of last August?) but hedge funds on average lost money the first half. And that was before fees (bold emphasis mine).