There were a record number of hedge funds reporting results far underperforming the S&P 500, and some even closing down. Ackman went as far to blame everyone and everything about his poor performance, Einhorn’s longs crumbled whilst his shorts (Netflix and Amazon) rocketed. It’s a pretty bad time to be a hedge fund manager.

One chief complaint is on central banks. You see, hedge funds in general make bets on security prices due to prevailing market sentiments or mispricing of securities. If you tend not to believe in the efficient market hypothesis, then you’d know that if the hedge funds are right, slowly but surely, the market will wake up to that mispricing and re-price it more efficiently, netting the astute investor a nice profit.

But what’s been happening over the years are central banks’ interruption of the usual market ebb-and-flow by intervening in almost everything; as you can imagine, ...