Investment bank Goldman Sachs recently held two roundtable sessions for chief investment officers of hedge funds. The bank found that they see bitcoin as their least favorite investment. In contrast, the latest Bank of America Fund Manager Survey found that “long bitcoin” was the most crowded trade.
CIOs Reveal Their Most and Least Favorite Investments
Goldman Sachs published a note Saturday after conducting a survey to find out what investments chief investment officers (CIOs) favor in the current market. Goldman Sachs strategist Timothy Moe wrote:
We held two CIO roundtable sessions earlier this week, which were attended by 25 CIOs from various long-only and hedge funds. Their most favorite is growth style but least favorite on bitcoin.
Besides growth style, the CIOs favored value style and then commodities. Their least favorite investment was bitcoin, followed by new IPOs, and rate-sensitive investments.
The most and least favorite investments for chief investment officers. Source: Goldman Sachs, Bloomberg
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