giovedì, giugno 04, 2009

Gli hedge fund non comprano questo rally

gli hedge fund sono normalmente considerati gli operatori più reattivi in assoluto, i più veloci ad entrare ed uscire da un mercato e a leggerne il futuro. Eppure, pochi fra loro hanno anticipato il rally di Borsa da Marzo, lasciando il settore in totale in una posizione meno rialzista che un anno fa, appena prima dell'ultima fase della crisi.
Si tratta di un madornale errore collettivo, oppure hanno visto giusto e la loro prudenza verrà premiata a breve?
clipped from

The fast money is proving slow to jump on the market's bandwagon.

Hedge funds, decried by many as quick traders, have played catch-up during the market rally since March. The average fund was 45% "net long" as of May 19, or had investment holdings valued at 45% more than its bearish "short" positions, according to Hedge Fund Research.

Many funds are skeptical the economy has entered a new period of growth that justifies high equity multiples. Others fear dislocations from governments shoveling money at problems.

Some noted stock pickers remain wary.

If stocks keep surging, hedgies might have to jump in with two feet, giving the market another lift. But their continued hesitancy should be a sign of caution for investors.

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Crossposted from Macromonitor

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