Large multi-strategy hedge funds such as Millennium, Balyasny and ExodusPoint lost money together in October as crowded AI-linked trades unwound. Separately, Martin Schmalz argues that very cheap index funds can lower investors' overall welfare.
November 12, 2026 edition: Funds & ETFs sector, 2 storiesFunds & ETFs: latest Investing analysis
Funds & ETFs on AT Pulse covers flows, fees & vehicles. The desk has published 2 stories tagged Funds & ETFs across 1 daily edition, on November 12, 2026, citing 21 linked references. The most frequent original sources are Odd Lots and Rational Reminder. Stories here most often overlap with Stocks, Markets, and Regulation.
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First story November 12, 2026. Counts come from the published archive and update with each edition. Summaries are AI-assisted; see our methodology.
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Podcast · Funds & ETFs
Martin Schmalz argues on Rational Reminder #435 that cheaper index funds can lower investors' overall welfare
Oxford professor Martin Schmalz, on Rational Reminder episode #435, argues that very cheap index funds push money from bonds into stocks, lifting prices and cutting future returns, and revisits his contested research linking shared fund ownership of airlines to higher fares.
Podcast · Funds & ETFs
Millennium, Balyasny and Other Multi-Strategy Hedge Funds Lose Money Together in October as AI Trades Unwind
Most large multi-manager hedge funds lost money in October, including Millennium, Balyasny and ExodusPoint, as AI stocks, bonds and other crowded trades fell together.
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