dinsdag 16 mei 2017

Hedge Funds Pile Into Just Six Tech Stocks

Last week we showed a fascinating statistic demonstrating just how poor market breadth has been in the latest push higher by the S&P: according to Goldman, as of May 10, just 10 companies have been responsible for half, or 46% to be exact, of the entire S&P's rally YTD...


And with the 13-F reporting period now over, we now know the reason why just six tech stocks were reponsible for the majority of the S&P's upward surprise YTD, virtually every prominent hedge fund piled into them. The breakdown presented below, courtesy of Bloomberg, reveals just how urgent the scramble for "growth" was in the first quarter. As Bloomberg adds, with an average gain of 26% , "it’s hard to overstate the influence of just six stocks on the U.S. stock market in the first quarter: Facebook, Apple, Amazon.com, Microsoft, Alphabet and Netflix"....