Shumway, Glenview among equity funds whipsawed in July
August 11, 2010
Lawrence Delevingne
Shumway Capital Partners and Glenview Capital Management are among those firms to get slapped for turning bearish in July following two down months.
After producing sizable gains for investors in 2009, several equity-focused funds were hit hard in recent months.
Fund managers were hammered twice by macro market trends, first holding long positions too far into May and June when the Dow Jones Industrial Average fell 11.21%, and then missing the Dow’s 7.08% July surge after cutting bets on stocks, mostly...
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