Hedge Funds Miss Out
There is a group called Inside Monkey. They publish articles every now and then about the "smart money" in regards to stocks. It seems likely to me that these articles may be about "smart money", but are not written by a smart person (or computer).
Here is one that caught my eye:
Kingtone Wirelessinfo Solutions Hldg Ltd (KONE)’s Shares Skyrocket Post H1 Results, Hedge Funds Miss Out
Now KONE did have a great first half. When they announced their earnings, the stock did skyrocket ($4.52 to $5.80). The problem is that a hedge fund could have never even thought about owning this stock. Homer Simpson, maybe. The stock has a market cap of $4.3 million. Average share volume traded in past month is 8.000 shares.
So I doubt Pershing Capital was saying, "how did we miss this big winner?"