by Tyler Durden
Tuesday, May 11, 2021 - 11:31 AM
Late on Monday, we made two important observations: i) hedge funds had never been more levered to market moves, with gross leverage at all time highs, as hedge funds strive to extract every last ounce of beta from the market (net leverage was also extremely high, but not record high, and is more a reflection of any given hedge fund's alpha preference)...
... and ii) hedge funds had scrambled to short tech shares explaining the recent decline in the Nasdaq, with Goldman Prime pointing out that Info Tech stocks were
net sold for a third straight week and saw the largest week/week $ net selling since last August, and that