"Hedge funds are now widely available through ETFs and exchange-traded notes. Just make sure to keep the position balanced, up to a maximum of 40 per cent of the portfolio is a good target"

40% ??
This is crazy advice...these things are almost toxic...imo.
No wonder there are so many Porsche's driving around  in Toronto.....
Cash is cheap to own,and always ready for the next " big one :)