Jack Pitcher recently published an article in the Wall Street Journal that featured our Deputy CIO, Mike Edwards.
Mike Edwards, deputy chief investment officer of New York hedge fund Weiss Multi-Strategy Advisers, said the heavy short covering in July was a “pain trade” for many funds that hit their predetermined thresholds to close out losing trades and stop further losses.
“The last four or five weeks have been characterized by capitulation on that front,” Edwards said. “You have strategists start to say, you can’t fight this rally any more. I assure you that’s coming after they’ve seen some of their biggest clients capitulate, not before.”
To read the article in its entirety, please click here.