Hedge Fund Managers Paid for Stockpicking Genius Aren’t Showing Much of It

(Bloomberg Businessweek) — Even in the high-pressure, high-pay world of hedge funds, the “long-short” stockpicker is supposed to be somebody special. The style, pioneered seven decades ago by Alfred Winslow Jones, gave hedge funds their name. In addition to betting on their favorite stocks going up (or being long, in Wall Street’s argot), they wager on other stocks falling (selling short) and use leverage to juice their gains. The i…