No, No, Hedge Funds Are Really Super Happy The Market's Doing Well. Really. You Don't Have To Worry About Them. They're Ok.
Several prominent hedge funds have been wrong-footed by a rebound in global stocks this month. Big name European funds including Odey Asset Management and Lansdowne Partners were among those caught out by big bets against battered commodities firm Glencore PLC, which was one of several stocks that gained 20% or more for the month to date as global stock markets have risen sharply. Others, most notably Bill Ackman’s Pershing Square and ValueAct Capital Management, have been hit by their exposure to troubled Valeant Pharmaceuticals International Inc., which has dropped nearly 40% this month. [WSJ]