Long-Short Hedge Funds Get Mojo Back at Least for a Month
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April could be described as the month of the “pain trade” for some investors, as many assets began to move in the opposite direction of long-established trends that drew in crowds of traders.
The euro rallied 4.6 percent versus the dollar in April after slumping for nine consecutive months, crude oil jumped 25 percent after falling to a six-year low, German bund yields reversed course after approaching zero, etc. Heck, even the New York Mets started winning.