Hedge Funds Bet Against US Financial Stocks in Record Numbers - Goldman Sachs

Hedge funds have built bearish positions on US financial stocks to the highest level in nearly five years, according to Goldman Sachs. The bank's prime insights & analytics team reported that financials were the most net sold sector on the US prime book this week, driven entirely by short sales. The long/short ratio is at a historical low, indicating hedge funds' underweight position in financials, which have seen significant declines this year. The KBW Bank index is down nearly 23% year to date.