Equity long/short bloodbath yesterday a combination of three factors — 1. Continued squeezes on widely held shorts 2. Heavy degrossing across the street, pressuring both longs and shorts, 3. Market down when l/s has been running a cycle high net exposure
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Replying to @treysocal
degrossing = reducing your gross book size (ie selling your longs and buying back shorts) l/s net exposure is how much long/short funds are exposed to the overall stock market (ie the size of their long book minus size of their short book)
4:36 AM - 28 Jan 2021
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