Bloomberg, world's biggest hedge fund E.D. Shaw has sold its entire holding of Google shares according to last filing before 1st q they hold more then 1.5 mil shares representing at that time more then 600 mil dollars. Someone really wants this story to be hit this morning: it is on Bloomberg every 30 minutes. Smart money have left Google, only guys who are managing "other peoples'" money and retail will be holding the bags, fund managers will later sue the management of Google and will keep all their bonuses, what retail will do? Those who are trusting to all this price targets and "strong buy" will be hit most.
"The D. E. Shaw group is a specialized investment and technology development firm whose activities center on various aspects of the intersection between technology and finance. Headquartered in New York, the D. E. Shaw group encompasses a number of closely related entities with approximately US $21 billion in aggregate capital. Activities range from computer-based quantitative investment management to the development and financing of technology-oriented business ventures, but are tied together by a common focus on the economic implications of technological innovation. Since its organization in 1988, the firm has earned an international reputation for financial innovation and technological leadership, and has been described as “the most intriguing and mysterious force on Wall Street.*”
http://www.deshaw.com/
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