I was wondering why Wall Street was so bent out of shape over oil. The picture is getting clearer and clearer. A bull market has a few strategies to rob the world of it's wealth and no one wants to go back to that bear market; it lacks glamour and juice.
WHERE ARE THE REGULATORS?
Facebook, Amazon.com, Netflix and Alphabet represented nearly 4% of hedge fund “long” holdings at the end of last year
February 23, 2016
By Chris Dieterich
Hedge funds (click here) started this year the most concentrated they’ve ever been.
Who needs diversification when you can dedicate massive chunks of your portfolio to just a few large positions? The average hedge fund had parked 68% of its “long” assets in Top 10 positions at the end of last year, the highest on record, says David Kostin, head U.S. stock strategist at Goldman Sachs. He pulls that figure from a plethora recent 13F disclosures, which show holdings of large investors with a 45-day lag.
So-called FANG stocks (Facebook (FB), Amazon.com (AMZN), Netflix (NFLX) and Alphabet(GOOGL)) by themselves represented 3.5% of total hedge fund equity holdings at the end of last year. Strong-performance by that quartet of high-flying stocks meant that hedge fund FANG exposure jumped all the way from 1.5% at the start of 2015. (SEE CHART). Facebook is flat in 2016, while the other three are down sharply; Netflix and Amazon each are down about 20% so far this year....
WHERE ARE THE REGULATORS?
February 23, 2016
By Chris Dieterich
Hedge funds (click here) started this year the most concentrated they’ve ever been.
Who needs diversification when you can dedicate massive chunks of your portfolio to just a few large positions? The average hedge fund had parked 68% of its “long” assets in Top 10 positions at the end of last year, the highest on record, says David Kostin, head U.S. stock strategist at Goldman Sachs. He pulls that figure from a plethora recent 13F disclosures, which show holdings of large investors with a 45-day lag.
So-called FANG stocks (Facebook (FB), Amazon.com (AMZN), Netflix (NFLX) and Alphabet(GOOGL)) by themselves represented 3.5% of total hedge fund equity holdings at the end of last year. Strong-performance by that quartet of high-flying stocks meant that hedge fund FANG exposure jumped all the way from 1.5% at the start of 2015. (SEE CHART). Facebook is flat in 2016, while the other three are down sharply; Netflix and Amazon each are down about 20% so far this year....
