"Darling, I invest in accessories. My shoes are my hedge fund and my footsies are going down," 
'Darling, I invest in accessories. My shoes are my hedge fund and the footsies are going down.' Edina Monsoon, Absolutely Fabulous 2011.
'I'm not cash rich! Darling, I invest in accessories. My shoes are my hedge fund.' 
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How to create hedge fund to invest on behalf of customer?
From SEC site, hedge fund doesnt have to register, only mutual fund, but they require alot higher capital and requirement.
So in other word, can a private fund register with SEC
Its called a partnership or limited partnership.
Much has been made about hedge funds failure to keep up with the major stock market benchmarks this year. But 2011 is merely the latest disappointment in a string of misses that stretches back nine years, according to one analysis of the hedge fund industry.
Money invested in hedge funds since 2003 would have generated a return of 18% through November, according to data compiled by Hedge Fund Research. That puts it far behind the Standard & Poors 500-stock index, which has generated returns of 29% over that same period, once dividends are factored in, according to Simon Lack of SL Advisors. The hedge fund underperformance is even starker when placed next to a small basket of investment grade corporate bonds, as measured by the Dow Jones Corporate Bond Index. That benchmark has gained 77% since 2003.
Factor in hedge fund mangers customary 2% management fee and a 20% cut in profits, and the gap widens even more.
While disappointing, Mr. Lack says investors have no one but themselves to blame.
(www.abndigital.com) ABN's Eleni Giokos speaks with Eben Karsten, Portfolio Manager at Blue Ink Investments, looking at investing in hedge funds.
But there is one Lilliputian sovereign wealth fund that pre-dates the sovereign wealth funds of Norway, Mexico, Alberta and even the storied Abu Dhabi Investment Authority: the $400 million Kiribati Revenue Equalization Fund (established in 1956). There’s the Abu Dhabi Investment Authority, the China Investment Corporation, and the Government Pension Fund of Norway....
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Makes me want to invest someday and get a hedge fund.. 
@ I invest in accessories ... my shoes are my hedge fund.