Hedge funds have run out of ideas

Hedge funds are neglecting to protect against the downside in stocks, with one hedging gauge sitting close to the lowest in five years.
These funds are also seeing a near-record concentration in a small group of outperforming tech stocks, showing a lack of diversification.
The top five stock holdings among hedge funds right now are Facebook Amazon, Alibaba Alphabet and Microsoft, according to Goldman Sachs.
At the same time, funds overall are faring worse than the S&P 500.Hed