Wall Street’s Hedge Fund Obsession Gets Vindicated in Research
- Stock study lays bare fast money’s big influence on prices
- Small, active investment advisors spur outsize global moves
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Wall Street’s obsession with where the money is flowing has some fresh academic vindication.
Hedge funds exert far more power on equity prices than most other classes of investors, according to a recent paper, while the passive cohort are among the least influential.