Seeking a new source of fuel


With the bull market over, global equity players are reformulating their strategies

By Pete Gallo

For the past five years, global long/short managers had only to ramp up their net long exposure to post big gains. Since 2003, a robust global economy has pumped up equity values around the world - from Europe and the United States to Asia and Latin America - helping global stock funds net an average annual return of 13.27%, according to the Absolute Return database.

This year, the game has changed. With credit woes depressing global stock