(Wall Street Journal-MarketBeat blog)
Hedge funds had a rough July as bets on rising commodity prices and falling financial stocks failed to pan out, according to research firm Morningstar Inc.
Hedge funds have been getting a little summer trim. (Wikipedia)
The Morningstar 1000 Hedge Fund Index fell 3.07%, its worst monthly performance ever.
“In July, the bet on long commodities and short financials didn’t work as well for hedge funds,” said Daniel Farkas, hedge fund analyst for Morningstar. The trade has been a favorite of traders for some time.
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