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unwind - 1 Goldman Sachs - 1 Goldman - 1 Mark Spiegel - 1 Mario Unali - 1 Carolina Mandl - 1 Alison Williams - 1 Matthew Lewis - 1
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☆ Equity hedge funds get crushed by bearish bets in July
  + stars: | 2023-07-31 | by ( Carolina Mandl | ) www.reuters.com   time to read: +2 min
NEW YORK, July 31 (Reuters) - Global long/short hedge funds, those that bet stocks will fall or rise, were forced to unwind bearish bets that were dragging down performance in July, a Goldman Sachs report showed on Monday. Goldman Sachs (GS.N), as one of the biggest providers of lending and trading services to investors, is able to see how large hedge funds and asset managers move. Goldman wrote hedge funds may be close to the finish line of this trend, given the record levels reached. Mario Unali, senior portfolio manager at Kairos Partners, which invests in hedge funds, said hedge funds were unlikely to add long positions. "I don't expect the hedge fund industry to start chasing the market right now, at a time of seasonally low volumes and increased gap risk."
Persons: unwind, Goldman Sachs, Goldman, Mark Spiegel, Mario Unali, Carolina Mandl, Alison Williams, Matthew Lewis Organizations: YORK, Kairos Partners, Carolina, Thomson Locations: New York
☆ Analysis: Short sellers gain nearly $304 bln after tumble in U.S. stocks
  + stars: | 2022-12-22 | by ( Carolina Mandl David Randall | Carolina Mandl | David Randall | ) www.reuters.com   time to read: +5 min
That works out to a 31.2% return on total average short interest of $973.6 billion throughout the year, according to S3 Partners. Stanphyl Capital portfolio manager Mark Spiegel, who has been short Tesla "constantly, in varying size" since 2014, said a bet against Tesla was his fund's most profitable individual short position this year. While higher interest rates have punished growth stocks, some investors believe Tesla CEO Elon Musk's purchase of Twitter is diverting his time running the electric car company. Long-short hedge funds, which bet on stock prices rising or falling, posted a 9.7% loss through November, according to data provider HFR. Charles Lemonides, portfolio manager at $226 billion hedge fund ValueWorks LLC, believes tight monetary policy will weigh on risk appetite next year.
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