Just come out of a hairy "what are we going to do in 2013" meeting.
As you know, "one strategy" hedge funds go in and out of fashion like a handbag. 2012 was the year of the bond fund, thanks to QE and printing press techno crats. My distressed debt (i.e cheap as chips) mates don't know what a recession is but they will do this year.
Goldman says jump into equities and off we all jump. Why? Bonds are so dull and equities are so on the risk. Is 2013 the new 1982? Well something is for sure and that is most hedgies will be wearing heels this year because men, as in everything in life it seems, are useless fund managers (dealbook). Us men love risk and vol whereas the more sensible woman actually manages your money instead of throwing it all on red. But no need to have that sex change op just yet.
As you know, because we keep telling you, the next 5 years is going to be the biggest baddess bubble busting bond bashing blast since 2003 (bloomberg). Leverage is up and leverage means risk means casino means my ladyboy phase will be short lived.
When Wall Street fires Equity staff (bloomberg) you know its time to buy.
Crap debt (fa)
Casino bets (hedgeweek)