Market winners and laggards switched positions at the fastest rate on record Monday
Despite Apollo’s stellar performance, some investors are backing away from the alternative investment management firm.
Hedge funds’ conviction in tech shares echoed the confidence of retail investors who stood firm during the rout.
Some well-known fund managers, sensing the moment, began accepting new capital for the first time in years.
While many observers were predicting unprecedented gloom just weeks ago, the S&P 500 Index has defied expectations.
David Tepper and Stan Druckenmiller believe that U.S. stocks are vastly overvalued.
The returns extend a winning streak for the fund, which rose 9.3% last year.
In the second emergency interest-rate cut in two weeks, the Fed slashed its benchmark back to essentially zero.
The retreat means some foregone profits for an industry that’s been struggling to keep up with the market.
Bill Miller’s hedge fund jumped 120% last year. He says it’s because he didn’t stray from his top names.
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