These Are The Top 50 Hedge Fund Long And Short Positions

In an unexpected turnaround, for once hedge funds aren't sucking (if still underperforming both the S&P and the average mutual fund): for those who believe in piggybacking, here are the Top 50 most popular longs and shorts within the HF community.

Will They Haul Off Trump's Statue, Too?

"We take for granted, too, that our officials are miracle workers... and that we live among the gods themselves in an economy that never takes a breather... a stock market that only goes up... and something for nothing until Hell freezes over...But a recession cannot be far off. When it comes, the stock market will go down in sympathy. Then, Mr. Trump’s statue might be hauled off, too, before it is ever put up."

UMich Beats But Warns A Drop Is Imminent

The University of Michigan Sentiment survey beat expectations with its preliminary August print (97.6 vs 94.0 exp) driven by a massive spike in 'hope' as currenct conditions slump to their weakest since Nov 2016.

Sell US, Buy Japan?

"...Yeah, yeah, I know. Japan’s demographics are terrible. Their debt to GDP is mind numbingly large. It certainly appears as if their ability to grow is hampered by many handicaps... But since when have fundamentals mattered?"

BofA: "This Is The Key Risk-Off Signal" Ahead Of This Autumn's "Big Fall"

An imminent Aug/Sept "big fall" trade is plausible if poor politics shows up in consumer confidence, US high yield credit spreads gap toward 500bps; tech leadership reversal, and most importantly, if the US dollar rises despite lower UST yields and further drop in US presidential approval ratings.

USA Is Now Twice As Likely To 'Default' Than Germany

While the market turmoil (stocks down a few percentage points from all-time record highs) is being pinned on various factors (from North Korea, Trump, & Cohn to terrible retailer earnings and J-Hole anxiety), we suspect the real cause of market uncertainty is starting to peak through - the looming debt ceiling crisis that has now become too big and too imminent to ignore.

Frontrunning: August 18

  • Hunt for Driver Widens as Second Attack Hits Spain, Five Suspects Are Killed (WSJ)
  • FT loses it over bitcoin's relentless rise (FT)
  • China Codifies a Crackdown on ‘Irrational’ Outbound Investment (BBG)
  • U.S. Navy, citing poor seamanship, removes commanders of warship in deadly crash (Reuters)
  • ACLU Will No Longer Defend Hate Groups Protesting With Firearms (WSJ)

"From Nukes To Terrorism": Battered Investors Flee Risk For Safety Of Bonds And Gold

"In a week where we started by worrying about nuclear war, markets have quickly moved on from this, with yesterday's weak session more of a response to fears that Mr Trump's strategy for the economy and business is falling apart and later the terrible terrorist attack in Barcelona," is how DB's Jim Reid summarized the week's psychedelic events.

Democratic Missouri Senator: "I Hope Trump Is Assassinated!"

A Missouri state senator, Maria Chappelle-Nadal (D-University City), has landed herself in a bit of hot water with with the U.S. Secret Service today after posting, then deleting, a comment on Facebook which read, "I hope Trump is assassinated!"  Unfortunately, the internet never forgets.

"Let's Blow Up Mount Rushmore" Says Vice

We've hit peak crazy here. A prominent online news publication says, “Let's blow up Mt. Rushmore.” No, this is not al-Qaeda's "Inspire" magazine or the Islamic State's "Dabiq" propaganda publication - it's Brooklyn based Vice News.

Greeks Trust Putin Most Relative To Trump, Brits Undecided

Around the world, few people trust Russian President Vladimir Putin to do the right thing when it comes to international affairs. A global median of roughly one-in-four (26%) say they have confidence in the Russian leader. However, as KeepTalkingGreece reports, Greeks love the Russian President; much more so in fact than US President Donald Trump.