Here's the chatter from hedge fund conferences run by Goldman Sachs, Morgan Stanley, Citi, and Kepler

Core Insights - The hedge fund industry, valued at $4.7 trillion, is experiencing a mix of optimism and caution among allocators and managers as they gather at various conferences in September [1][9]. Group 1: Market Sentiment - Allocators are expressing concerns about a potential market pullback but are not yet ready to abandon US stocks [4][5]. - There is a prevailing sentiment of discomfort among investors, with many feeling "uncomfortably comfortable" as US equities continue to rise despite concerns over tariff policies affecting global trade [6]. Group 2: Investment Strategies - There is a heightened demand for hedge fund managers with proven track records in shorting stocks, as allocators seek strategies that can perform well during market downturns [7]. - Interest is growing among American allocators for managers trading international stocks, indicating a desire to diversify away from the US market [8].