Have hedge funds changed their minds on China?
Capital Link International CEO McGonegal believes US hedge funds are becoming more positive on the Chinese economy
Capital Link International CEO Brett McGonegal says there’s been an inflection point as some US hedge funds bearish on China have changed their tone.
“There’s been a big sea change in the hedge funds in the US and the tone all of a sudden is turning positive,”McGonegal explained during a CNBC interview. “There was a feeling that this market was propped up and it’s going to fall apart. The numbers weren’t real.”
“I think now you’re getting validation from some of the big players that they were wrong,” he added. “And I think this is a very big inflection point in the whole psychology of how you push money and get asset allocation into these markets. It’s a very positive signal.”
McGonegal is a principal investor in Asia Times.