Even before the US midterms, the AI trade was weakening. Just look at all <a href="https://www.bloomberg.com/news/articles/2026-11-06/crowded-hedge-fund-trades-are-unwinding-fast-after-ugly-october">the headlines from October in the hedge fund world</a> &mdash; it was one of the bloodiest periods the industry has faced in recent memory. Now, after the blue wave, things continue to look uncertain. So what's going to happen with the AI buildout now? And what about the big Anthropic IPO? Today's episode is a two-parter, one that examines both the hedge fund carnage of the last few weeks and the broader macro conditions we find ourselves in after the midterm elections. We speak with two of our Bloomberg News colleagues &mdash; Nishant Kumar, chief correspondent for hedge funds, and macro strategist Michael Ball &mdash; and they help lay out why October was a historic month for hedge funds and what they are paying attention to now as jitters from the AI trade continue to work their way through the market.Read more: <a href="https://www.bloomberg.com/news/articles/2026-11-06/crowded-hedge-fund-trades-are-unwinding-fast-after-ugly-october">Crowded Hedge Fund Trades Unwind Fast After Ugly October</a> Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox, plus unlimited access to the site and app.&nbsp;<a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-link-cookie="1" data-destination="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast">bloomberg.com/subscriptions/oddlots</a>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.

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