In a Long Short Hedge Fund Strategy

In a long short hedge fund strategy,

A) managers take long positions in undervalued stocks and short positions in overvalued stocks.
B) managers take short positions in undervalued stocks and long positions in overvalued stocks.
C) managers take offsetting risk positions on the long and short side.
D) managers take long positions in undervalued stocks and long positions in overvalued stocks.
E) managers take short positions in undervalued stocks and short positions in overvalued stocks.