Ever since hedge funds started to chronically underperform the market about ten years ago (around the time central banks took over as Chief Risk Officer of the stock market, and also around the time SAC crashed everyone’s party and made use of “expert networks”, i.e. inside information, illegal), investor interest in 13-F filing season which takes place roughly 45 days after the end of the fiscal quarter, has been declining as there is virtually no signal to be gleaned from i) knowing what stocks hedge funds own and ii) certainly what stocks they owned 45 days ago.
Yet there was one specific filing that traders were curious about: that of Warren Buffett’s Berkshire Hathaway, which was reported late on Wednesday,
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