HedgeCo.Net — This week’s prints look like one tape if you add the dollars. They are not. A crowded public book de-grossed. A private book was packaged as a structured dollar. A process deed sat next to a signed take-private and a rejected bid. The allocator job is to mark the object in front of you, not the week.
The crowded book is specific. Goldman Sachs said its Hedge Fund VIP list of the most popular long positions had its worst one-month underperformance versus the S&P 500 in more than...
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