Long/short equity funds are reporting a mediocre rise in
August, and may even now be sending gold-bound copies of
Aesop's "The Tortoise & The Hare" to their patient
Both U.S. and global long/short equity funds trailed the
broader market indices as many funds had lowered the net
exposure going into August, thereby reducing their potential
upside in the market rally, which was fueled in part by the
Fed's pause in raising rates and lower energy prices....