The Phaserl


In China 1300 Hedge Funds “Did Not Fight The Central Bank” And Are Now Liquidating

from Zero Hedge:

Just like 13F clones end up getting burned more often than not, so too unfortunately for the Chinese copycats, an endorsement from the equity market’s savior has done nothing to ensure outsized returns. In fact, as Bloomberg adds, it was just the opposite – the stock picks have trailed the broader market. The 46 companies that reported the agency as a top 10 shareholder in the past two months lost an average 29 percent since the announcement, versus a 21 percent drop for the Shanghai Composite Index.

The problem with both strategies is that they both ultimately fail to keep asset prices artificially propped up, but while the western approach at least provides some temporary relief which in the case of the S&P has now lasted almost 7 years, the Chinese approach is an abysmal failure, especially since unlike the US, China’s PPT – whether it wants to or not – has to report its single-name stock purchases.

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