We've noted the woes of James Simon's ailing RIEF recently. But for every story of a poorly performing fund, this year, there seems to be a success story. From a performance perspective, hedge funds fared better than most gave them credit for in 2008. Still, there are some who posted losses that have since turned it around.

The New York Post notes four: Ken Griffin's Kensington fund, which is up 21 percent this year after dropping 55 percent in 2008; Steve Cohen's SAC Capital, up 14 percent after falling 18 percent in 2008; Paul Tudor Jones, up 13 percent after dipping 5 percent; and Dan Loeb's Third Point Offshore, which is up 5 percent after falling 33 percent last year. Hedge funds in general are up nearly 10 percent through the end of May. Last month was a big winner across the board.

For more:
- here's the article

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