Timely article from Bloomberg: Hedge Funds in Pain Watch Record S&P 500 Rally They’ve Missed
U.S. stocks are vaulting back to all-time highs. But the smart money isn’t celebrating. Instead, they’re nursing pain. Hedge funds have seen returns dwindling even as the S&P 500 Index marches forward in what has become, by some measures, the longest bull market ever.
How is that even possible? Blame it on a defensive stance and bad-luck bets…Also hurting are their favorite stocks, notably tech giants such as Facebook Inc. that have suddenly stopped working. Meanwhile, their bearish wagers backfired, with the most-shorted stocks jumping for a third week in four.
What a great find smorgasbord, showing again how trying to time the market can kill your results!
Saul