Active manager equity exposure last October when the S&P 500 was at 4,100: 25%. Active manager equity exposure today w/ the S&P above 5,100: 105% (leveraged long), highest since Nov 2021.
https://x.com/charliebilello/status/1769374653481369931?s=20
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Active manager equity exposure last October when the S&P 500 was...
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