Bad bets on financial firms and crude oil could mean hedge funds will face their worst results of the past half decade, according to Bloomberg.
Hedge Fund Research Inc.’s Global Hedge Fund Index fell 3.2% through July 24.
“You have to believe that everyone had the same trade on,” Paul Meader, co-managing director of Corazon Capital Management, told Bloomberg. “There will be a lot of people hurting and licking their wounds with a tough July to report to their clients.”