Pensions Are To Blame For Extreme Boom/ Bust Cycles: Analyst

If there's one thing we've learned about the financial markets over the last year, it's that things have changed quite a bit. Last year at about this time, some hedge fund managers were practically chomping at the bit for the momentum rally to finally end. Several managers told investors in their quarterly letters that the markets were doing the opposite of what they "should" have been doing.

Q4 hedge fund letters, conference, scoops etc

So what's behind the dramatic changes? One analyst has offered up a very interesting view. He suggests pension funds may be to blame for the extremes...