<div id="readability-page-1"><div><div><h2><strong>The rumors of excess are greatly exaggerated</strong></h2><p>No one ever really worried whether hedge funds were “alright.” But the latest data from Morgan Stanley’s prime brokerage desk shows they are — diversified, low beta, and far from all-in on AI. Positioning looks responsible, not euphoric, and crowding is more myth than fact.</p><h2><strong>No de-grossing</strong></h2></div></div></div>

摩根士丹利

<p>关于过度投资的传言被大大夸大了。没有人真正担心对冲基金是否 “还好”。但来自摩根士丹利的主要经纪业务部门的最新数据显示，它们是——多元化、低贝塔，并且远未完全押注于人工智能。当前的持仓看起来是负责任的，而非狂热的，拥挤更多是神话而非事实。没有去杠杆化</p>

摩根士丹利：对冲基金状况良好