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Despite 12% Rally Hedge Funds Turn From Stocks

BusinessWeek – For the first time this year, hedge funds are turning away from a rally in the global stock market.

The ratio of bullish to bearish bets among professional speculators fell last week and is below historical averages, according to a survey by International Strategy & Investment Group. The reduction came as the MSCI All-Country World Index (BBHFUNDS) extended its yearly advance to 12 percent and contrasts with January, when managers bought shares as they rose, data compiled by ISI and Bloomberg show.

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