How did you guys do this week?

Based on the most helpful WSO content, the last two weeks in the long/short equity hedge fund space seem to have been challenging for many. Volatility has been a significant factor, with some funds experiencing substantial drawdowns. The stress levels are high, regardless of whether you're up or down, as market conditions remain unpredictable. Circuit breaker days in equities and volatility across bonds, emerging markets, and currencies have added to the pressure.

For those holding positions over a few months, the uncertainty about how long this turbulence will last and how it will resolve is a constant concern. Additionally, the shift in market dynamics, such as the rise of passive strategies and the dominance of index funds like Vanguard and BlackRock, has made it harder for long/short strategies to generate alpha, as stock reactions to theses (long or short) are not as pronounced as they used to be.

If your PnL has taken a hit, you're not alone—many funds are navigating similar challenges. The key is to stay disciplined and avoid overreacting to short-term market moves.

Sources: https://www.wallstreetoasis.com/forum/investment-banking/sept-22-2015-heres-what-happened-in-the-stockbond-markets-last-week?customgpt=1, Correction time, is it finally happening?, Random Thoughts on the HF Industry, Is value investing dead?, Is Long/Short Equity Hedge Fund Dead??