Hedge funds had become ‘extreme’ sellers of stocks even before Yellen’s interest-rate remarks
Repost from 5-5-2021
“The hedge-fund selling was most concentrated in the communications-services and information-technology sectors, according to the BofA data — i.e., the tech winners that have thrived during the COVID-19 pandemic. Who’s buying? Retail clients were the only group to buy U.S. equities for the third week in a row and have been net buyers for 10 straight weeks, per Bank of America.”
USAGOLD note: So, which is the smart money?