Hedge Funds Fretting U.S. Stock Doom Have Nimble Counter-Plan
- Measure of exposure to U.S. shares sinks to lowest since 2013
- Evidence of rise in market-neutral strategies, hedging: Nomura
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Hedge funds are snubbing broad bets on the stock melt-up and shifting to market-neutral strategies, according to Nomura Holdings Inc., underscoring the skepticism dogging this gravity-defying bull run.
Fast-money exposure to U.S. equities has plunged to the lowest since 2013, according to an estimate of the portion of their returns attributable to the S&P 500 Index. Other data show the ratio of bullish bets to bearish ones near the lowest in more than a year.