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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