The Hot Dogs Are Cold
By Lori Calvasina
Published May 31, 2021 | 2 min listen
This week in the podcast, Lori discusses her takeaways from last week’s release of 1Q21 13fs for major hedge funds. The big thing you need to know: the most popular Large Cap stocks in hedge funds in terms of the Dollar value owned, which we call the Hot Dogs, have continued to underperform in 2021 in a significant way. At the sector level, big reversals in performance have been seen for the most popular hedge funds stocks in the Communication Services, Consumer Discretionary, and Tech sectors, with the most popular names lagging this year. But Energy has bucked the trend as the most popular hedge fund names in the sector have outperformed. Lori also discusses what surprised her about positioning in Financials among hedge funds.
Lori Calvasina
Managing Director & Head of U.S. Equity Strategy, RBC Capital Markets
Lori Calvasina joined RBC Capital Markets as Head of U.S. Equity Strategy in 2017 as a Managing Director. Having spent nearly two decades as an equity strategist at major investment banks, Lori is an expert on the US stock market, and regularly represents RBC in the financial media on Bloomberg and CNBC. Prior to joining RBC, Lori was a senior equity strategist at Credit Suisse from 2010 to 2017, covering Small/Mid Cap Strategy from 2010-2014 and both Small/Mid Cap and US Equity Strategy from 2015-2017. She spent the first ten years of her career at Citi in a variety of roles including lead Small/Mid Cap Strategist from 2007-2010. In both 2008 and 2009 Lori was ranked #2 in the Small Companies category in the Institutional Investor All America Research team poll. Lori is a graduate of the University of Virginia and its selective Government & Foreign Affairs’ Honors Program. In 2019, she was named to Crains New York’s list of Notable Women in Finance.
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