Via a research note from Goldman Sachs related to the stonking interest in equities last week.
In summary:
- last week did show the largest hedge fund positioning 'de-grossing' since February 2009
(ICYMI February 2009 was in the midst of the GFC)
More:
- after shorts and longs converted hedge funs exposures still remain close to record
- and thus there is still an ongoing risk of positioning-change-driven moves