Some hedge fund managers have made big bucks trading oil futures - George Soros is one.
With such enormous bucks devoted to trading in oil and other commodities, the distortions that they cause have been exacerbated.
There are a lot worse things you can do with all your bucks than giving them to even a mediocre mutual fund - such as, for example, giving them to a mediocre hedge fund. If supporting the lifestyle of a mediocre fund manager is your favorite charity, who am I to stop you?