Bloomberg – Hedge funds are shoveling money into stocks as individuals exit at the fastest rate in a year, a sign to professional investors that the Standard & Poor’s 500 Index is poised to extend its gains.
About $37.3 billion has been pulled from U.S. mutual funds since August, according to the Investment Company Institute. Hedge funds — which lost half as much on average as the S&P 500 since stocks peaked in October 2007 — boosted bets to the highest level since the end of that year in the third quarter and have kept buying, according to data compiled by Goldman Sachs Group Inc., industry consultants and Bloomberg.
