Forbes – It could be the Terrific Ten large cap stocks that hedge funds have concentrated their bets that’s made 2011 a losing year for big money. Thanks to the Zerohedge web site and my mysterious competitor Tyler Durden that we know that everyone and his brother in the hedge fund world ownApple(AAPL), Google,(GOOG), Microsoft(MSFT), JP Morgan Chase,(JPM) and Pfizer,(PFE).
So, whatever Apple has done for you, JP Morgan takes away. It means that hedge funds are mainly being copycats and staying in big cap shares owned by everyone. Doesn’t seem worth 2% management fees and 20% of the profits does it? Maybe, the rational is these funds are only down 2% for the year, which is better than the general market averages. Protecting capital seems the priority of the big money casino players. Good to know.