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Hedge Funds Get Long Volatility

Hedge Funds are apparently dusting off their notes on how to hedge, and getting long volatility... 

As the Fed stays out of the market (perhaps not for much longer), and people wake up to the fact that the economy (both US and China) isn't fundamentally strong, we're now finally seeing some volatility in the market (gasp). As Bloomberg points out below, VIX futures are now a popular buy.