HF EMN strategies

CFA Level III Alternative Investments
#1

Hi,

Can anyone explain this- "EMN strategies are especially attractive during periods of vulnerability and weakness.
I do not understand this.

Thanks

#2

During a stock market downturn, would a long equity portfolio or an EMN portfolio perform worse?

#3

In that case, long will lose value and short will gain value -so neutral- right?

#4

So, how would you explain this statement now.

#5

That was my original question.