Hedge Funds Turn Sour on Energy Producers as Shorts Surge: Chartby
Not even the August rebound in U.S. energy stocks could entice hedge-fund buyers. Long-short funds turned net short on the sector last month for the first time in Credit Suisse Group AG data going back to 2011. It’s unusual to see such a bearish position across an entire industry, said Mark Connors, Credit Suisse’s global head of risk advisory. “Could it be that funds are putting flags in the sand in oil and in global growth?” he said.