If you have pretty good to excellent knowlegde about hedge funds... can you give me the run down?

Would it be a good idea to take out a large loan and put that in, let it ride for a few months and pull some out and so on?

No.

If you don't have the cash to invest, you shouldn't be investing. Borrowing money to invest is generally not a good idea. Investments go up and investments go down, and while with luck they may provide a good return over time, the variability month-to-month is not consistent with the need to pay a loan every month. People who borrow money for investment purposes are playing with fire if they don't have the cash on hand to cover the loan.