(Bloomberg) You didn’t have to be some dad with an E*Trade account or an ex-manager for Target Corp. shorting the VIX to get burned. The smart set took its lumps in the downdraft, too.
Days before the S&P 500 Index’s biggest selloff since 2015, bullishness among hedge funds specializing in stocks surged to the highest in more than three years, according to client data compiled by JPMorgan Chase & Co. The bank looked at a value called net exposure, which subtracts short positions from longs.
