[Unprecedented Risk Retreat in a Decade: Global Equity Hedge Funds Accelerate Retreat in November] BlockBeats reports that a new monitoring report released Tuesday, November 11th, by Morgan Stanley's prime brokerage team shows that global equity hedge funds staged the most intense risk retreat in over a decade during the first week of November. A widespread wave of liquidations is spreading across global markets. In Asian markets, hedge funds are reducing their risk exposure through a two-way strategy of "reducing long positions and increasing short positions." This phenomenon is particularly prominent in the technology-heavy South Korean market. Selling pressure is mainly driven by fundamental-based stock selection funds, while multi-strategy, macro, and quantitative funds are taking the opportunity to close out previous short positions, demonstrating a clear divergence in institutional strategies. On the other hand, Goldman Sachs data shows that deleveraging has not yet been completely cleared. The total leverage of its US fundamental long/short fund plummeted by 8.7 percentage points in a single week, marking the largest drop since the outbreak of the pandemic in March 2020; however, looking at all PB clients, the overall total leverage remains as high as 314.2%, a high level at the 85th percentile over the past year. JPMorgan Chase's assessment is more positive. Dubravko Lakos-Bujas, the bank's global head of market strategy, believes that this correction is essentially a concentrated deleveraging by momentum traders, and that "capitulation selling has gone quite deep," with technical indicators suggesting that short-term oversold conditions and bottoming signals are accumulating.