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This Is ‘Atypical’: Hedge Funds Ride Out Correction By Sticking With Most Crowded Positions
So earlier this week, on the Greenlight Re call, David Einhorn stoically (I guess) admitted that things still aren't going well. Specifically, he conceded he's "never underperformed like this" after saying he’s in the midst of his worst stretch since March of 2000.
You might recall that last year was rough — David was up just 1.6% compared to the S&P’s mammoth gains and a 6.5% return for the average hedge fund. And January didn’t bode well for 2018 as the “bubble basket” contin
Could hedge funds have realized the power of the corporate buyback bid? Sticking with the companies with the larger buyback purses? I don’t know enough to answer that question, but it could explain their “atypical” behavior, given the importance of the corporate bid (which is different this cycle).