Published on 21 Sep 2022 on Insider Monkey via Yahoo Finance
15 Best Stocks To Invest In Right Now
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According to a Bloomberg report dated August 24, the Goldman Sachs Group noted that elite hedge funds are strengthening their stakes in US mega-cap tech stocks and the market sentiment is similar to the levels observed at the beginning of the pandemic. Goldman’s Ben Snider said that hedge funds raised their tech and consumer discretionary holdings, while slashing bets on energy and materials stocks. Most hedge funds held concentrated portfolios, and average weightings of top 10 holdings represented about 70% of the total investments in the quarter ended June, the highest concentration observed since the first quarter of 2020. The Goldman team wrote in a note dated late-August:
“Stymied by an uncertain market environment and poor recent returns, hedge funds have cut leverage, shifted back towards growth, and increased portfolio concentrations.”