The tide may be turning for the hedge fund industry

The hedge fund industry has had a tough run. 
The average hedge fund has returned around 3% so far this year, according to Goldman Sachs, while the S&P 500 is up around 7%.
The hedge funds themselves have had a plethora of excuses for this poor performance, ranging from the size of the industry to its lack of diversity.
One of the recurring complaints is that they are all investing in the same things, which is otherwise known as crowding. 
Crowding hasn't always been a pr