One More Thing

I came across an astounding article in Bloomberg that I had to share. According the ISI survey hedge funds were at their lowest exposure since 2009 heading into the European Summit this week. From Bloomberg:
Hedge funds reduced bets that stocks will rise to almost the lowest level since 2009 this week, according to International Strategy & Investment Group.

ISI’s index of “net exposure” to stocks slipped to 44.7 yesterday, compared with its 2011 high of 54.2 in February, according to a note sent to clients. The measure climbed to 45.5 on Oct. 12 after declining to 44 on Sept. 21, the lowest level since April 2009.

If this survey is representative of hedge fund exposure and they decide to bring exposure to normal levels this rally could have a way to go.

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