Active Managers Fail Again as Stock Rotation Lashes Hedge Funds
- Smart money is burned by crowded bets in risky tech stocks
- Value rally offers hope, yet funds have tilted toward growth
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Stock pickers just blew the stock rotation they’ve spent years longing for.
Long underweight the booming tech megacaps in recent years, professional speculators failed to ride the January revival in value shares, as they struggled to cut fast enough exposures to growth firms that have been killed in the bond selloff.