Once upon a fairy-tale Wall Street scenario, hedge funds, the masters of the financial universe, found themselves in a predicament akin to Goldilocks caught by the three bears. Their perpetual pessimism, a web of bearish bets, was brutally crushed like tin cans under the runaway steamroller of a post-Federal Reserve meeting rally.
The stage was set; the players primed. The bears - those biting, snarling hedge funds - had bet their golden goose on the economy not just faltering, but floundering. Anticipating a downturn adroit with profit-making opportunities, they had positioned themselves on the prickly edges of the market, ready to swoop in and capture the spoils from its fall.
