@article{d61b24479e6c4dc894f0fe2d0551961b,
title = "Reconsidering hedge fund contagion",
author = "Richard Sias and Turtle, \{H. J.\} and Blerina Zykaj",
note = "Funding Information: Our primary analysis focuses on new evidence of hedge fund{\textquoteright}s role in the recent 2007–2008 financial crisis and the August 2007 quant crises. We begin by attempting to better understand the reductions in aggregate hedge fund equity exposures during the last two quarters of 2007 and 2008. Contrary to the traditional interpretation that widespread investor withdrawals and forced leverage reductions drove hedge funds from equity markets, the evidence suggests that the hedge fund exodus was driven, at least in part, by their strategic, and ex-post prescient, decision to delever and exit equity markets prior to the market bottom.",
year = "2018",
month = jun,
day = "1",
doi = "10.3905/jai.2018.21.1.027",
language = "English (US)",
volume = "21",
pages = "27--38",
journal = "Journal of Alternative Investments",
issn = "1520-3255",
publisher = "Portfolio Management Research",
number = "1",
}