Tuesday, February 8, 2011
TrimTabs/BarclayHedge Survey of Hedge Fund Managers
The topical study from the February 2011 issue of The Hedge Fund Flow Report. Gain insight into industry trends and hedge fund asset flows before you make your next important decision.
- Hedge fund managers remain very upbeat on U.S. equities. About 37% of the 91 managers we surveyed are bullish on the S&P 500, while only 26% are bearish. These readings are the second-highest and second-lowest (respectively) since the inception of our survey in May 2010.
- A host of other sentiment gauges - the Merrill Lynch Bank of America survey of institutional investors, the AAII survey of retail investors, the Investors Intelligence survey of investment advisors, and the put/call ratio - show that investors of all stripes are extremely optimistic on domestic stocks. Also, spec traders continue to short the VIX aggressively even though volatility has decreased steadily.
- Bearish bond sentiment is the flip side of bullish stock sentiment. About 38% of hedge fund managers are bearish on the 10-year Treasury note, while only 15% are bullish. The January Bank of America Merrill Lynch survey reveals that a net 54% of portfolio managers are underweight bonds, up from 47% in December. Nevertheless, hedge fund managers remain reluctant to fight the Fed. Spec traders maintain a large net long position (3.5 to 1) on the five-year note, while they are only modestly short longer-dated issues. . .
Accredited investors can read the entire article for free.
From the February 2011 issue of The Hedge Fund Flow Report. The Hedge Fund Flow Report combines the accuracy of the BarclayHedge database with the analytical insight of TrimTabs Investment Research. The report is generated by TrimTabs Investment Research using the most current data on thousands of hedge funds. An annual subscription includes 12 monthly updates as well as a spreadsheet containing historical flow aggregates by category.
To download a free sample of the entire TrimTabs Hedge Fund Flow Report, simply fill out this short request form.
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