Big Boys becoming Bears

Why Smart Money is Dumping US Stocks

Casey Research

On Monday, Bloomberg Business reported that hedge fund managers cut their holdings in U.S. stocks by $200 billion last quarter. These funds now hold $1.5 trillion in U.S. stocks, down from $1.7 trillion at the end of June.

The list of fund managers who trimmed their U.S. stock holdings reads like a “who’s who” of the investing world. …

Stan Druckenmiller … is one of the world’s most successful hedge fund managers. He generated an incredible 30% average annual return from 1986 to 2010. Today, he runs Duquesne Capital.

At a conference earlier this month, Druckenmiller said he’s … working under the assumption that we may have started a primary bear market in July…

Duquesne Capital cut its holdings of U.S. stocks by 41% last quarter, according to recent company filings. …

(David) Tepper is the founder of Appaloosa Management, a $24 billion hedge fund that’s averaged 30% annual returns since 1993. …

Tepper had been bullish on U.S. stocks since the global financial crisis. But … in September, Tepper told CNBC, “I can’t really call myself a bull.”

According to Bloomberg, Appaloosa trimmed its holdings in U.S. stocks by 30% last quarter. …

E.B. Tucker, editor of The Casey Report, thinks the bull market died during the mini-crash in August. E.B. shared that bold call with his readers in September. …

(Read More…)


See also:

Is it 2008?

Ignition, Meltdown!

When that Fat German Canary Sings

Planning for Glencore Toast

Crude Prices to Drop

The Anti-Cash Crash

The Anti-Recovery

The Zombie Nikkei


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