The beauty of Hedge Funds is they are not in it for the long haul.
Hedge Funds activity usually means they smell a quick return.
The problem is defining whether their quick return is via SP appreciation or via short selling.
"The Sabre Fund adopts a non-benchmark or strict strategy single strategy approach to investment. The manager instead chooses the approach, which is expected to yield the highest potential returns in the upcoming period, and avoids the problem of over-crowded styles, which have become populist and consequently less profitable".