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Wall Street calmer, but funds have FOGO: fear of getting obliterated

The Australian Financial Review (AFR) •
November 06, 2026 • 09:09 PM
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The bleeding on Wall Street has stopped for now. But the market’s biggest investors worry growing correlation in the hedge fund sector could deliver more pain.

Wall Street calmer, but funds have FOGO: fear of getting obliterated

After Wall Street’s bloodbath, hedge fund titan Dan Loeb had a simple message for markets. “Hug your hedge fund manager,” he posted on social media on Friday night.

As it turns out, sharemarkets did offer investors a bit of succour, with Wall Street at least stemming the bleeding after Thursday night’s dramatic sell-off.

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