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We are
achieving our 2025 goal with
tremendous levels of success. But we
have so much more work to do to
truly Make Volatility Great Again.
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00:01 - 29/04/25
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Systematic macro hedge funds have reduced exposure to US
equities to levels not seen since the COVID crash.
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While institutions have been
selling, retail has been aggressively buying.
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Individual investors have also been aggressively scooping up
ETFs, including as we saw recently, a fair amount of
leveraged long exposure.
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Fundamental hedge funds have reduced leverage back
to levels not seen in nearly a decade during the selling
pressure we've seen over the last few months. That may put
many of them in the position of having FOMO if threatened
with underperforming the market.
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