It feels like a broken record at this point. December was simply a terrible month for most hedge funds, and we have yet another data set to prove it—as if we really needed it. It's clear at this point that momentum stocks haven't given up the ghost just yet—even though it seemed like 2018 might finally bring sweeping changes to the stock market's dominant factors. This is evidenced even today by steep rallies in the FANG names (FB, AMZN, NFLX, GOOGL).
Q3 hedge fund letters, conference, scoops etc
Weak alpha from hedge funds in December
In a report this week, UBS noted that alpha was especially weak last month as measured two different ways against the S&P Total Return...
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