So which hedge funds are best positioned to thrive in a difficult 2009? You might be inclined to start suggesting strategies or sectors, but the better bet would be on size. We've noted before that large hedge funds will have an advantage as the industry shakes out.  

A recent Deutsche Bank survey, noted by Crain's New York, has found that more than half of respondents say they'll "only invest in funds with $1 billion or more in assets under management, while just 25 percent of investors say they'd choose funds in the $500 million to $900 million range." Compare that with the 2006 survey results, when 35 percent said they would invest in $1 billion-plus funds and 33 percent favored funds managing $500 million to $900 million. 

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