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Doug Kass: Why the S&P 500 May Stay Resilient Even in the Face of a Tech Wreck

Doug Kass: Why the S&P 500 May Stay Resilient Even in the Face of a Tech Wreck

Bank of Canada's less-than-expected rate boost Wednesday was indicative of this. 4. Low hedge fund exposure has created a fear of missing out (FOMO) response as prices began to rise. 5. Hedge funds have been concentrated in the same stocks -- many of which are falling hard.