(Bloomberg) Decisions to step away from stocks by everyone from professional speculators to clients of U.S. mutual funds are proving prescient amid the worst rout since 2011. Hedge funds that aim to profit from global economic trends, a group that oversees some $550 billion, spent July putting on trades that profit from declines in equities, data from Credit Suisse Group AG showed. Owners of mutual and exchange-traded funds yanked $78.8 billion from U.S. shares in the first seven months of 2015, more than in any full year since at least 1993.
Hedge Funds Just Nailed Their Short Bets On U.S. Stocks
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