From the one-year anniversary of the below tweet, S&P 500 had outperformed R2K by >15% (QQQ >20%). Many funds had piled into the short R2K trade - and for that reason you have to manage the hedge a bit... With that said, long large/qual + short small remains the trade...
Warren Pies
Warren Pies2.8.2024
A modest small cap short is an excellent equity hedge at this point in the cycle…
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