Im intrigued as to how you’ve done a portfolio analysis on someone else’s fund without having a scooby about where his money is invested?
Hedge funds will typically have a minimum investment of £1million so it’s fairly unlikely the man in the street will have much if any exposure to it. An alpha fund will try and outperform the mandate within its permissions, it’s unlikely an Alpha fund will have ploughed all its money into either Melvin or a single short position on one stock.
I’ve worked as a chartered wealth manager for a good 15 years and have plenty of experience of DFM’s and I’m questioning your credentials