FYI: All year, evidence has built that professional money managers reformed their ways after last quarter’s equity rout. Hedge funds stepped back from the market. They put more faith in their stock-picking skills.
In one regard, though, equity managers haven’t changed much. It’s their propensity to all own the same thing. That can be seen in a measure of crowdedness in the market that’s higher than it’s been in two years.
Regards,
Ted
https://www.fa-mag.com/news/stock-crowding-risk-is-back-with-everyone-buying-the-same-thing-43632.html?print
