OK but it's still just false. Go read this obituary of Richard Gilder who recently passed away. He founded a firm that gave ordinary retail investors consistently high returns for decades.

https://www.gilderlehrman.org/about/richard-gilder

I'm sure that some hedge funds know what they're doing, but it's impossible to tell which are the good ones. Investing in a hedge fund still is functionally equivalent to asking a monkey to throw darts at stocks.

Also, in general if there's a consistent and significantly market-beating (after fees) hedge fund that's available to the public, it's a scam. Most real strategies can't scale infinitely (see Medallion), and so have a maximum amount of useful capital. If the owners can't fill this amount of capital on private markets after a few years, then it probably failed a few sniff tests.

The super investors of graham doddsville is also instructive reading on this point.