Hedge Funds Are Hurting From a Garbage Rally. Who's to Blame?
This appears to be unprecedented in several respects. Previous meme stock rallies were driven by medium-term retail investors, and previous quant hedge fund losses were steeper but lasted only a few days. Now we seem to be seeing meme day traders inflicting many weeks of small losses. Previous quant equity losses hit long and short positions equally, this time it's only the short positions. Goldman Sachs Group Inc.'s most shorted-stocks basket has surged at a near record pace and its Speculative Trading Indicator is at over three-year highs, according to a Bloomberg News report last Thursday.
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