Equities: Upended by volatility
Thu Sep 27, 2007
August was a tricky month for long/short equity managers.
Funds that were net long got hit when quantitative funds
deleveraged early in the month. Funds that cut leverage early
in August or ended the month net short missed out on the rally
that occurred after the Federal Reserve lowered its discount
borrowing rate for banks.
The S&P 500 ended the month up 1.3%, but not...
ISSN: 2151-1845 / CDC10004H
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