Hedge Fund Ownership Of QQQ Nearly Triples To Record High, Shorts Rise 85%

In a world where the central bank liquidity tsunami has effectively relegated the whole concept of "alpha" to the dustbin of market history (how do you consistently outperform a benchmark that not only never falls, but in fact rises inexorably irrespective of fundamentals and/or negative macro catalysts), the only option becomes a "strategy" that isn't really a "strategy." Basically, "if you can't beat 'em, join 'em" - only with leverage if you want to outperform. The proliferation of ETFs has