"September brings cooler weather, weekends filled with football, and plenty of hedge fund conferences. Last month, managers and allocators in the $4.7 trillion industry had many opportunities to compare notes and share gossip. Events hosted by Goldman Sachs and industry consultant Kepler at Citi Field and Wembley Stadium, respectively, brought hedge fund managers and those who invest in them to sports venues. Meanwhile, Morgan Stanley and Citi held more low-key affairs in venues based in Greenwich and Manhattan."
"One manager who attended Morgan Stanley's three-day event at the Greenwich Hyatt Regency in the middle of the month said allocators are concerned about a market pullback - but aren't yet ready to ditch US stocks. There's a fear the party's ending, "but no one wants to make the first move," this person said. Over the conference, they met with dozens of allocators, including many institutional investors such as pensions and endowments."
September featured numerous hedge-fund conferences across New York, Connecticut, and London, with Goldman Sachs and Kepler hosting events at Citi Field and Wembley Stadium and Morgan Stanley and Citi holding smaller gatherings in Greenwich and Manhattan. Attendees included managers and allocators from the $4.7 trillion industry. Attendees spoke on the condition of anonymity because the conferences were closed to the press. Allocators expressed concern about a potential market pullback but showed reluctance to abandon US stocks. Common phrases at the events included "there's a fear the party's ending, but no one wants to make the first move" and "people are uncomfortably comfortable."
Read at Business Insider
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