NEW YORK (CNNfn) - While Nasdaq volatility toppled two hedge fund leaders and raised questions about the health of the industry, certain hedge funds have actually been thriving during the market's drastic swings.
Hedge funds that short-sell stocks or time the market have in some cases delivered double-digit returns in April -- even as Julian Robertson and George Soros, pillars in the hedge fund community, decided to shut down or cut back on risky strategies.
Many industry hedge fund indexes expect to report their monthly numbers next week. But in advance of those figures, analysts say hedge fund short sellers were some of the top performers last month thanks to the market's roller coaster ride that took the Nasdaq down more than 25 percent in mid-April.
"We were, so to speak, dancing in the aisles," said Brian Rogers of Short Alpha Bear Management, a short selling hedge fund in New York City. "The volatility provides us opportunity. When things get more out of whack, we can profit from it."
