But you know what, the managers will still get paid their management fee.

NYPost: Hedge funds are once again on track to post their worst monthly return in at least a decade - and the bloodshed this time may exceed the record set 10 years ago.

As of last week, the average hedge fund was down 8.4 percent for Oct., according to research firm Hedge Fund Research. That's neck-and-neck with the worst performance for hedge funds ever recorded: A decline of 8.7 percent in August 1998.

The mounting losses are hurting even the biggest names in the business - testing the long-held theory that the large, institutional guys are better insulated than everyone else.

JPMorgan Asset Management, which has long reigned as the nation's largest hedge fund, lost $7 billion in assets since the start of July, bringing its new total to $41 billion.

Bridgewater Associates, the nation's second-largest hedge fund, saw assets drop to $38 billion from $43.5 billion, even as its flagship fund posted returns of about 10 percent, The Post has learned.

For the year, hedge funds are down more than 19 percent, according to data obtained by The Post.