hedge funds rarely recruit directly from undergrad

Portfolio managers in hedge funds mostly have worked for an investment bank before. As previous posts have said, go to a good school, pick whatever major, get great GPAs, and ace the interviews, and join an i-bank. After couple of years, you have a pretty good shot in joining a hedge fund and take the rather standard "track".

If you want to be a quant guy/gal in an i-bank or hedge fund, then you may want to be a hard core math/physics major in undergrad. Most likely you will also need to get a graduate degree in math or computer programming. The pay of the quant people are not on the same scale as those high profile portfolio managers. Woudn't recommend it.