coool_老虎社区_美港股上老虎

Jacky_HSH
2021-05-25

coool

Why once-hot hedge-fund stock picks are now the 'pain trade' of 2021

Reflects shift in market leadership toward 'riskier value and cyclical recovery plays': RBC. The re

Why once-hot hedge-fund stock picks are now the 'pain trade' of 2021

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

推荐
最新

暂无评论

热议股票

关于我们·老虎社区守则·老虎社区账号管理规范·老虎社区服务协议·老虎社区隐私政策

公司名称：北京至简风宜信息技术有限公司

违法和不良信息投诉：010-5681-3562（工作时间9:30-18:30）

邮箱：service@laohu8.com

营业执照：91110105MA01A4U55R

ICP备：京ICP备18016422号

网安备：京公网安备11010502036490

关注我们

{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":138341076,"tweetId":"138341076","gmtCreate":1621913084795,"gmtModify":1634185539565,"author":{"id":3575850207626746,"idStr":"3575850207626746","authorId":3575850207626746,"authorIdStr":"3575850207626746","name":"Jacky_HSH","avatar":"https://static.tigerbbs.com/1d88265936e4041d830a288a34adbb12","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":4,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>coool</p></body></html>","htmlText":"<html><head></head><body><p>coool</p></body></html>","text":"coool","highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/138341076","repostId":2138159964,"repostType":4,"repost":{"id":"2138159964","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1621912080,"share":"https://www.laohu8.com/m/news/2138159964?lang=&edition=full","pubTime":"2021-05-25 11:08","market":"us","language":"en","title":"Why once-hot hedge-fund stock picks are now the 'pain trade' of 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2138159964","media":"Dow Jones","summary":"Reflects shift in market leadership toward 'riskier value and cyclical recovery plays': RBC.\n\nThe re","content":"<blockquote>\n <b>Reflects shift in market leadership toward 'riskier value and cyclical recovery plays': RBC.</b>\n</blockquote>\n<p>The reflation trade -- a bet that assets that benefit from a post-pandemic surge in growth and inflation will outperform their traditionally safer peers -- is putting the hurt on tech and other growth-oriented shares that have been popular with big hedge funds.</p>\n<p>That finding comes from the latest look by RBC Capital Markets at a basket of stocks it dubs \"hedge-fund hot dogs,\" a roster of the most popular holdings among hedge funds based on their quarterly 13-F filings with the Securities and Exchange Commission. Funds must disclose long positions held at the end of each quarter within 45 days.</p>\n<p>\"Our primary list of the most popular stocks in hedge funds (Hot Dogs) has underperformed sharply in 2021, with relative performance trends in place [year to date] that echo the sizable underperformance seen in 2016,\" wrote Lori Calvasina, head of U.S. equity strategy, in a Monday report. \"This is largely due to the shift inmarket leadership away from safer secular growers and back towards riskier value and cyclical recovery plays.\"</p>\n<p>As reflected in the left-hand chart above, the basket's underperformance has been particularly sharp for the past several months. While the basket of hot dogs turned in a strong performance in 2020, its outperformance relative to the S&amp;P 500 peaked last August, Calvasina said.</p>\n<p>That is \"a reminder that the pain trade in popular hedge-fund holdings has been under way for quite some time, essentially since the reflation trade took off in earnest,\" she said.</p>\n<p>Calvasina and company don't expect the pressure on those names to let up as long as value leadership remains intact.</p>\n<p>The table below shows the current basket of most popular holdings by dollar value owned.</p>\n<p>Expectations for an acceleration in economic activity as the U.S. and the rest of the world begin to move beyond the COVID-19 pandemic have been credited for sparking a rotation away from the highflying, tech-oriented companies toward stocks more sensitive to the economic cycle.</p>\n<p>That is translated into outperformance for value investments, seen as undervalued relative to a variety of price metrics, versus growth stocks, which are shares of companies expected to grow earnings and revenue more quickly than their peers. For the year to date, the Russell 1000 Value Index is up 17.3% versus a 6.1% gain for the Russell 1000 Growth Index .</p>\n<p>Stocks were pushing to the upside on Monday, with the Dow Jones Industrial Average up 240 points, or 0.7%, while the S&amp;P 500 advanced 1.2% and the tech-heavy Nasdaq Composite gained 1.7%.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why once-hot hedge-fund stock picks are now the 'pain trade' of 2021</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy once-hot hedge-fund stock picks are now the 'pain trade' of 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-05-25 11:08</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n <b>Reflects shift in market leadership toward 'riskier value and cyclical recovery plays': RBC.</b>\n</blockquote>\n<p>The reflation trade -- a bet that assets that benefit from a post-pandemic surge in growth and inflation will outperform their traditionally safer peers -- is putting the hurt on tech and other growth-oriented shares that have been popular with big hedge funds.</p>\n<p>That finding comes from the latest look by RBC Capital Markets at a basket of stocks it dubs \"hedge-fund hot dogs,\" a roster of the most popular holdings among hedge funds based on their quarterly 13-F filings with the Securities and Exchange Commission. Funds must disclose long positions held at the end of each quarter within 45 days.</p>\n<p>\"Our primary list of the most popular stocks in hedge funds (Hot Dogs) has underperformed sharply in 2021, with relative performance trends in place [year to date] that echo the sizable underperformance seen in 2016,\" wrote Lori Calvasina, head of U.S. equity strategy, in a Monday report. \"This is largely due to the shift inmarket leadership away from safer secular growers and back towards riskier value and cyclical recovery plays.\"</p>\n<p>As reflected in the left-hand chart above, the basket's underperformance has been particularly sharp for the past several months. While the basket of hot dogs turned in a strong performance in 2020, its outperformance relative to the S&amp;P 500 peaked last August, Calvasina said.</p>\n<p>That is \"a reminder that the pain trade in popular hedge-fund holdings has been under way for quite some time, essentially since the reflation trade took off in earnest,\" she said.</p>\n<p>Calvasina and company don't expect the pressure on those names to let up as long as value leadership remains intact.</p>\n<p>The table below shows the current basket of most popular holdings by dollar value owned.</p>\n<p>Expectations for an acceleration in economic activity as the U.S. and the rest of the world begin to move beyond the COVID-19 pandemic have been credited for sparking a rotation away from the highflying, tech-oriented companies toward stocks more sensitive to the economic cycle.</p>\n<p>That is translated into outperformance for value investments, seen as undervalued relative to a variety of price metrics, versus growth stocks, which are shares of companies expected to grow earnings and revenue more quickly than their peers. For the year to date, the Russell 1000 Value Index is up 17.3% versus a 6.1% gain for the Russell 1000 Growth Index .</p>\n<p>Stocks were pushing to the upside on Monday, with the Dow Jones Industrial Average up 240 points, or 0.7%, while the S&amp;P 500 advanced 1.2% and the tech-heavy Nasdaq Composite gained 1.7%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138159964","content_text":"Reflects shift in market leadership toward 'riskier value and cyclical recovery plays': RBC.\n\nThe reflation trade -- a bet that assets that benefit from a post-pandemic surge in growth and inflation will outperform their traditionally safer peers -- is putting the hurt on tech and other growth-oriented shares that have been popular with big hedge funds.\nThat finding comes from the latest look by RBC Capital Markets at a basket of stocks it dubs \"hedge-fund hot dogs,\" a roster of the most popular holdings among hedge funds based on their quarterly 13-F filings with the Securities and Exchange Commission. Funds must disclose long positions held at the end of each quarter within 45 days.\n\"Our primary list of the most popular stocks in hedge funds (Hot Dogs) has underperformed sharply in 2021, with relative performance trends in place [year to date] that echo the sizable underperformance seen in 2016,\" wrote Lori Calvasina, head of U.S. equity strategy, in a Monday report. \"This is largely due to the shift inmarket leadership away from safer secular growers and back towards riskier value and cyclical recovery plays.\"\nAs reflected in the left-hand chart above, the basket's underperformance has been particularly sharp for the past several months. While the basket of hot dogs turned in a strong performance in 2020, its outperformance relative to the S&P 500 peaked last August, Calvasina said.\nThat is \"a reminder that the pain trade in popular hedge-fund holdings has been under way for quite some time, essentially since the reflation trade took off in earnest,\" she said.\nCalvasina and company don't expect the pressure on those names to let up as long as value leadership remains intact.\nThe table below shows the current basket of most popular holdings by dollar value owned.\nExpectations for an acceleration in economic activity as the U.S. and the rest of the world begin to move beyond the COVID-19 pandemic have been credited for sparking a rotation away from the highflying, tech-oriented companies toward stocks more sensitive to the economic cycle.\nThat is translated into outperformance for value investments, seen as undervalued relative to a variety of price metrics, versus growth stocks, which are shares of companies expected to grow earnings and revenue more quickly than their peers. For the year to date, the Russell 1000 Value Index is up 17.3% versus a 6.1% gain for the Russell 1000 Growth Index .\nStocks were pushing to the upside on Monday, with the Dow Jones Industrial Average up 240 points, or 0.7%, while the S&P 500 advanced 1.2% and the tech-heavy Nasdaq Composite gained 1.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":270,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":5,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}