GOLDMAN: Hedge Fund Managers Love These 50 Stocks
The big news was that Apple lost its spot as hedge funds' favorite stock.
Believe it or not, Apple got dethroned by AIG, the beleaguered insurance company that was at the center of the financial crisis.
AIG and Apple are constituents of Goldman's "Hedge Fund VIP (Very-Important-Positions)," a basket of 50 stocks that "mattered most" to hedge fund managers. The all of the stocks rank among the top ten holdings of many of the biggest funds.
"While Very Important Positions that “mattered most” surged 23% last year, the typical fund returned just 8%, lagging the S&P 500 by over 800 bp," wrote Goldman.