Credit books and risk parity shops would have nuked the markets further unless Mnuchin stepped in with the Fed.
In 2020, it's monster hedge funds you won't see on TV but believe me, they got smoked this week and if it wasn't for another round of socialism for the rich, the markets would be much lower.
Let's dig into Ray Dalio's favorite trading strategy.
Simple right?
Well, portfolio managers have to sell them as well or get liquidated/called.
That's a bailout folks and it happened this week.