Hard Times for Stock Pickers as Quants Roar Back, Bernstein Says
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Stock picking is getting more difficult, according to Sanford C. Bernstein strategists.
Rising macroeconomic risks and volatility have caused historically low correlation in the performance of equities to climb back to average levels, according to strategists led by Sarah McCarthy. That’s bad news for active funds, threatening to halt an improved performance in the first half of this year.