Fund Managers: We're Cutting Exposure to Euro Zone Banks

One might think the the newly elected Prime Minister of Greece would have enough common sense to not appoint a finance minister with a history of medical problems. One might also think a person with known medical problems would turn down the position if offered because of the obvious stress. However, one would be wrong on bout counts. Reuters reports Greek finance minister resigns, crisis deepens

When Spanish bonds traded at yields above 7% last Summer, the world's central banks went into a whirlwind to proclaim that these levels did not represent reality (in spite of the depression-era style economic data the nation was spewing). Fast forward nine months, the data is worse and getting worserer but yields - through the guiding hand of Draghi, the self-referential buying of domestic banks, and the BoJ's risk-is-no-object reach for anything non-JPY denominated - have crushed to 4.3% pre-crisis levels.

The Prudent Investor submits: This blog has been warning since 2009 that

Hedge fund managers aren't exactly known for their eloquent writing style. Letters to investors these days are typically lifeless and dry, filled with carefully worded regrets and empty promises for a better day to come. But there's message coming from one hedge fund in Scotland that should be faxed, forwarded, shouted from midtown skyscrapers, and stapled to every telephone pole in Greenwich, CT.

By Ganaxi Small Cap Movers:In this article, via an analysis based on the latest available Q1 institutional 13-F filings, we identify the integrated oil & gas company stocks that are being accumulated and those being distributed by the world's largest fund managers.