Hedge Funds Live to Fight Another Day After Reddit Mayhem
- Goldman says equity exposure remains near record high for now
- Quant funds have so far avoided the retail-driven turmoil
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In a blow to the Reddit crowd taking on the Wall Street elite, the broader hedge fund industry lives to fight another day for now following a week of stock drama.
Even after the worst-ever short squeeze forced professional speculators to deleverage by the most in more than a decade, the smart money is staying invested in the U.S. stock rally with exposure near a record high, Goldman Sachs Group Inc. prime brokerage data show.