Hedge Fund Sentiment Turns Sour On Market's Darlings, HazelTree Data Indicates
Hedge Fund Sentiment Turns Sour On Market's Darlings, HazelTree Data Indicates
How "Crowded" Is The Short Market? While many gauge investor pessimism by looking at short-selling percentages, HazelTree's approach gives a broader view. Hedge funds are raising eyebrows by taking a bearish stance on some of the hottest sectors, namely electric vehicles (EVs), luxe brands and AI tech.
對沖基金對一些最熱門的板塊採取看跌立場，這引起了人們的關注，即 電動汽車 (EV)、奢侈品牌 和 人工智能科技。
What Happened: Insights from HazelTree, known for offering treasury services to the big institutional players, show that top hedge funds are prepping for potential declines, shorting 2023's market darlings.
發生了什麼： 來自的見解 HazelTree以向大型機構參與者提供財資服務而聞名，這表明頂級對沖基金正在爲潛在的下跌做準備，做空2023年的市場寵兒。
Top Shorts In Focus: Names like EV giant Tesla Inc (NASDAQ:TSLA); luxury mogul Kering (OTC:PPRUY), owner of Gucci; and chip powerhouse from Japan, Advantest Corp (OTC:ATEYY), topped the list for being heavily shorted in their respective regions last month, according to Bloomberg.
焦點熱門短褲： 像電動汽車巨頭這樣的名字 特斯拉公司 （納斯達克股票代碼：TSLA）；奢侈品大亨 開雲集團 （場外交易代碼：PPRUY），古馳的所有者；以及來自日本的芯片巨頭， 愛德萬測試公司 據彭博社報道，場外交易代碼：ATEYY）上個月因在各自地區被大量做空而位居榜首。
How "Crowded" Is The Short Market? While many gauge investor pessimism by looking at short-selling percentages, HazelTree's approach gives a broader view.
空頭市場有多 “擁擠”？ 儘管許多人通過看空百分比來衡量投資者的悲觀情緒，但HazelTree的方法提供了更廣闊的視野。
The company tracks the sentiment across its client base, providing a more comprehensive picture. Bloomberg's coverage, leaning on HazelTree's analytics, highlighted data from around 700 funds that represent about 12,000 global equities.
該公司追蹤了整個客戶羣的情緒，提供了更全面的畫面。彭博社的報道基於HazelTree的分析，重點介紹了來自約700只基金的數據，這些基金代表了約12,000只全球股票。
The term "crowdedness" might be a new one for retail investors, so let's get into it.
對於散戶投資者來說，“擁擠” 一詞可能是一個新詞，所以讓我們開始吧。
Essentially, it's a scale from 1-99 developed by HazelTree to indicate just how many funds are shorting a stock. Ninety-nine represents the security that the highest percentage of funds are shorting.
從本質上講，這是HazelTree開發的1-99的比例，用於表明有多少基金在做空一隻股票。百分之九十九代表了做空比例最高的證券。
If you're wondering just how pessimistic the sentiment is for the likes of Tesla, Kering and Advantest — all three bagged a score of 99.
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如果你想知道特斯拉、開雲和愛德萬測試等公司的情緒有多悲觀，那麼這三家公司的分數均爲99分。
另請閱讀：值得關注的 10 只空頭擠壓股票：Yellow Corporation、Getty Images、特百惠等
Stocks In The Spotlight: Despite Tesla's storied growth over the years, the sentiment seems to be shifting. With CEO Elon Musk recently flagging concerns over future profitability due to a "higher for longer" interest rate environment causing the company to lower its car prices, it's clear that even the biggest players aren't immune to market shifts.
聚光燈下的股票： 儘管特斯拉多年來取得了傳奇般的增長，但情緒似乎正在發生變化。和首席執行官在一起 埃隆馬斯克 最近，由於 “長期更高” 的利率環境導致該公司降低汽車價格，人們對未來盈利能力表示擔憂，很明顯，即使是最大的參與者也無法倖免於市場變化。
In AI, Advantest recently missed the mark on its quarterly earnings. For luxury brands, European names such as Kering are feeling the heat, with signs pointing to its Gucci brand lagging behind competitors.
在人工智能方面，Advantest的季度收益最近沒有達到目標。對於奢侈品牌來說，像開雲這樣的歐洲品牌正在感受到炎熱，有跡象表明其Gucci品牌落後於競爭對手。
LVMH Moet Hennessy Louis Vuitton SA (OTC:LVMUY), the luxury brand behind Louis Vuitton, Givenchy and others, also had a significant short focus in the EMEA region, Bloomberg's report said.
LVMH 酩悅軒尼詩路易威登 彭博社的報道稱，路易威登、紀梵希等公司背後的奢侈品牌SA（場外交易代碼：LVMUY）也將重點放在歐洲、中東和非洲地區。
The Bigger Picture: While hedge fund attention to shorting stocks such as Tesla, Kering and Advantest are making rounds, the actual percentage of shares being out is still pretty low.
大局： 儘管對沖基金對特斯拉、開雲和Advantest等做空股票的關注正在四處流動，但股票的實際出局比例仍然相當低。
Around 2.6% of Tesla's float is being sold short, 0.9% for Kering and 8.7% for Advantest, Bloomberg said, citing Hazeltree's data.
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彭博社援引Hazeltree的數據稱，特斯拉約有2.6％的股票被賣空，開雲集團的0.9％被賣空，Advantest的8.7％被賣空。
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