RGA 1Q21 Investment Commentary: Growth vs Value
RGA Investment Advisors commentary for the first quarter ended March 2021, titled, “Growth vs Value.” Q1 2021 hedge fund letters, conferences and more Highly Levered Hedge FundsThe story of the Q1’ 2021 in many respects centered around the positioning of highly levered hedge funds. In January, prominent hedge fund Melvin Capital experienced significant losses when GameStop and several other highly shorted stocks went parabolic. In March, Bill Hwang’s family office, Archegos, blew up long several highly shorted names and left its prime brokers holding the proverbial bag. In both cases, the fund...