Hedge funds have been hit by a "max pain" trade and are now suffering grappling with a great unwinding according to RBC's Head of US Cash Equities Salestrading, Charlie McElligott.
Hedge funds have been hit by a tidal wave of bad news, and there's no sign the market will start to favor hedge funds again anytime soon. According to RBC, year-to-date the VIP Hedge Fund basket of stocks is down 1.55% and the US Momentum Long strategy is down 0.39%. However, the HF Very Important Short Basket is up 1.93% YTD. Over the past month, the VIP long, US Momentum and Very Important Short baskets are up 2.96%, 3.27%, and 4.63% respectively.
These aren't the only figures which show that the...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
