Stock Ratings / Financials / ABX / earnings

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Abacus Global Management Inc. (Class A) (ABX) Next Earnings Date & Expected ±7.7% Move

$8.47 -1.63% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $8.43

Abacus Global Management Inc. (Class A) (ABX) carries a Roarable Rating of D- (Sell) with 43/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

📊 Historical Track Record Warning: Scores below 50 (43/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows →

ROARABLE D- • SELL / AVOID Cap $842.0M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on ABX Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is ABX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-02, Abacus Global Management Inc. (Class A) (NYSE: ABX) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 43/100 at a spot price of $8.47 (-1.63% 1D, market cap $842.0M). Pillar breakdown: Fundamental Cash Engine 6/20, Institutional 13F & Options Flow 9/20, Executive Insider Alignment 13/20, FRED Macro Regime Fit 7/20, and SEC Balance-Sheet Forensics 8/20. Across 1096 tracked Financials issuers, ABX ranks #880 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does ABX compare to VRTS and FMN in the Financials sector?

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Within the Financials sector (Investment Managers), ABX carries a Roarable D- (43/100 RQD), trailing P/E of 23.1x, gross margin of —, and ROIC of 10.4%. By comparison, VRTS (Virtus Investment Partners Inc.) holds a E grade (34/100 RQD, P/E 6.1x, ROIC 14.3%, cap $827.6M) and FMN (Federated Hermes Premier Municipal Income Fund) posts a D grade (46/100 RQD, P/E N/A, ROIC —, cap $903.1M). Among the 5-stock peer group, VRTS leads on earnings multiple (6.1x) while VRTS leads on capital efficiency (14.3% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for ABX?

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Per ABX's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001814287), Abacus Global Management Inc. (Class A) generated $235.2M in revenue (+110.2% YoY), $36.5M in net income, and -$26.6M in free cash flow against $902.2M in total assets and $289.9M in total debt. Key quantitative strengths: Established market leader in Financials with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $8.43 (-0.48%)🧬 Disciplined Float (+1.08% YoY Shares)⚙️ Cash Engine: 6/20 (E) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (43/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows (-6.7% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERSELL / AVOID • D-

2-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw D- · Rk D

Each axis scored 0–20

12M PRICE TARGET CONE-6.7% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for ABX)Realized 20D OHLCV Swing Band: ±7.7%

Deterministic 5-Pillar Attribution (43/100 Composite)

🔍 WHY ABX SCORES 43/100 (D-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: SEC 10-K Forensic Risk+13/20 pts (30% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 4/9

▲ #2 Bullish Driver: Whale & Options Positioning+9/20 pts (21% of score)

20D Institutional Volume Accumulation (±7.7% realized swing band)

▼ #1 Drag / Risk Factor: Cash Engine Quality6/20 pts (-14 pt drag)

Capital intensity & 37.7% operating margin leave 14 pts on the table

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade E$8.12-3.3% Next Q

Q2 (-2Q)

Grade E$7.85+4.5% Next Q

Q3 (-1Q)

Grade D$8.20+3.3% Next Q

Current

Grade D-$8.47-6.7% Hist 90D α

Trajectory: E (35) → D- (43)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a ABX Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While ABX currently carries a cautious 43/100 (D-) rating due to Cash Engine Quality (6/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Financials with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($8.70) and Max Pain ($8.89) forces dealer call-delta covering toward $13.06.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (+1.08% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $ABX• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “ABX Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 43%NO 57%Trade / Inspect Odds →

NEXT EST. WINDOW: Dec 30, 2026 (~57 DAYS)

Historical OHLCV Volatility ±7.7% Swing Band

±$0.65 Expected Swing

MODEL EARNINGS SETUP GAUGE

ABX Quantitative Pre-Earnings Setup: 43/100

Trailing EPS: $0.37 • YoY Revenue Growth: 110.2%

Model Bullish Setup (43/100)Model Risk Weight (57/100)

Derived deterministically from RQD cash-flow quality, SEC accrual safety, and institutional flow (not a community poll).

LOG YOUR PERSONAL PRE-EARNINGS STANCE (SAVED LOCALLY IN BROWSER):

Recent SEC Reported Revenue, Net Profit & Diluted EPS Cadence

Period	Filed	Revenue	Net Profit	Free Cash Flow	Gross Margin
FY 2025	2025-12-31	$235.2M	$36.5M	-$26.6M	52%
FY 2024	2024-12-31	$111.9M	-$24.0M	-$209.6M	52%
FY 2023	2023-12-31	$66.4M	$9.5M	-$64.0M	52%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring ABX)

✓Walkthrough of ABX's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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ABX // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -7.83%⚡ TESTING RESISTANCE

2026-11-02O $8.42H $8.61L $8.42C $8.47VOL 349.1K

RES: $8.68SUP: $6.81SMA50: $8.70SMA200: $9.14

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

ABX Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 ABX Butterfly Map → + Track ABX →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

16.9%/yr Implied 5Y Growth

vs. +110.2% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on ABX today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for ABX. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for ABX today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (ABX)

Financials Rank #880 of 1096 ⚔️ VRTS vs ABX Full Matrix →

1. Head-to-Head Financials Peer Comparison (ABX vs. VRTS, FMN, GSBD, RPC)

Industry: Investment Managers (79 Tracked Issuers)

Across 1096 tracked Financials securities in the Roarable RQD universe, Abacus Global Management Inc. (Class A) (ABX) ranks #880 by composite RQD confidence (43/100, grade D-) and #587 by equity capitalization ($842.0M). Within this direct 5-issuer industry benchmark cohort, VRTS leads on earnings valuation at 6.1x trailing P/E, while VRTS leads on capital efficiency and profitability with 14.3% ROIC and — gross margin. RPC currently holds the highest overall quantitative score in the immediate peer group at 58/100 (D+) compared with ABX at 43/100 (D-).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
ABX ACTIVE Abacus Global Management Inc. (Class A)	D-	43/100	23.1x	—	10.4%	-1.63%	$842.0M	Benchmark Subject
VRTS Virtus Investment Partners Inc.	E	34/100	6.1x	—	14.3%	-5.39%	$827.6M	/vrts-vs-abx →
FMN Federated Hermes Premier Municipal Income Fund	D	46/100	—	—	—	+0.29%	$903.1M	/fmn-vs-abx →
GSBD Goldman Sachs BDC Inc.	D+	52/100	8.6x	—	8.4%	-1.43%	$1.02B	/gsbd-vs-abx →
RPC Ridgepost Capital Inc. (Class A)	D+	58/100	52.5x	—	13.8%	-0.75%	$1.02B	/rpc-vs-abx →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001814287

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Abacus Global Management Inc. (Class A) (ABX) reported GAAP revenue of $235.2M (+110.2% vs. FY2024 revenue of $111.9M , and +254.3% cumulative change since FY2023) , GAAP net income of $36.5M, operating cash flow of -$25.7M, and free cash flow of -$26.6M (+87.3% YoY). On the balance sheet, ABX closed FY2025 with $902.2M in total assets against $289.9M in total debt (Altman Z-Score: N/A, Piotroski F-Score: 4/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$235.2M	$36.5M	-$25.7M	-$26.6M	$902.2M	$289.9M
FY2024 (FY)	2024-12-31	$111.9M	-$24.0M	-$208.8M	-$209.6M	$874.2M	$342.4M
FY2023 (FY)	2023-12-31	$66.4M	$9.5M	-$64.0M	-$64.0M	—	—

3. ABX Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is ABX stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does ABX compare to VRTS and FMN in the Financials sector?

What are the biggest fundamental strengths and SEC risk factors for ABX?

Where is ABX trading relative to its 50-day, 200-day, and 52-week technical levels?

ABX last traded at $8.47 (-1.63% on volume of 590,956 shares), positioning the stock -2.64% below its 50-day simple moving average ($8.70) and -7.33% below its 200-day simple moving average ($9.14). Across its 52-week range of $5.00 to $12.44, ABX sits at the 46.6% percentile with a 14-day RSI of 55.0 (BULLISH MOMENTUM) and an implied next-earnings move of ±7.7% ($7.82 to $9.12).

ABX Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

When is ABX's next earnings date?

Based on SEC filing cadence, Abacus Global Management Inc. (Class A) (ABX)'s next quarterly reporting window is estimated around Dec 30, 2026.

How much is ABX stock expected to move on earnings?

Volatility modeling currently projects a ±7.7% event move for ABX, spanning a range between $7.82 and $9.12.

Direct Sub-Reports: ABX RQD Cockpit ABX 12M Forecast ABX Earnings & Move ABX Dividends & DRIP ABX Insiders & 13F ABX Whale Options ABX Profit Sankey ABX News & Why

ROARABLE RATING BRIEF • RQD 43/100 (D-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

ABX — Abacus Global Management Inc. (Class A): What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:32:27Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, ABX scores 43 out of 100 with a letter grade of D-, and the verdict label is "Roarable Sell — Vulnerable Balance Sheet & Flow." The five pillars are:

Fundamental Cash Engine: 6 / 20. This pillar is the weakest contributor. The rating cites ROIC of 10.4% and an FCF yield of -3.16%. A negative free cash flow yield means the company is not currently generating free cash relative to its market value, so the earnings figures do not translate into distributable cash on this measure.
Whale / 13F Flow: 9 / 20. The rating references institutional accumulation and options positioning. No holder-level detail is supplied in the source data, so the score cannot be traced to specific filers.
Insider Conviction: 8 / 20. The rating references SEC Form 4 and Congressional PTR cluster flow. The score is below midpoint, indicating limited directional conviction from insiders in the rating's framework.
Macro Regime Fit: 7 / 20. The rating cites a beta of 1.0 and sector sensitivity. A beta of 1.0 means the stock is modeled to move in line with the broad market, offering no defensive cushion in a downturn.
Forensic Balance Sheet: 13 / 20. This is the strongest pillar, citing an Altman Z-Score of 2.5, a Piotroski F-Score of 4/9, and a Debt/Equity ratio of 0.5. The Piotroski score of 4 out of 9 indicates weak fundamental quality signals on that scale.

For a prospective investor, the rating's implication is that reported profitability (operating margin of 37.7%, net margin of 15.5%) is not yet matched by cash generation, and the balance sheet is moderately sound rather than strong. The valuation tradeoff is that a trailing P/E of 23.1 and forward P/E of 19.4 price in expected earnings improvement, which the cash-flow pillar does not currently confirm. Upside drivers would need to show up as sustained positive free cash flow; without that, the rating places the stock in a sell-leaning category.

Snapshot

Price	Market Cap	P/E (TTM)	Forward P/E	EV/EBITDA	EPS (TTM)	Dividend Yield	Beta	52-Wk Range	ROIC %
$8.61	$842.0M	23.1	19.4	12.2	0.37	2.32%	1.0	$5 - $12.44	10.4%

Financial Trend

Period	Revenue	Operating Income	Net Income	EPS	FCF	Cash	Debt
FY 2025	$235.2M	$88.8M	$36.5M	N/A	$-26.6M	$38.1M	$289.9M
FY 2024	$111.9M	$-0.9M	$-24.0M	N/A	$-209.6M	$131.9M	$342.4M
FY 2023	$66.4M	$24.1M	$9.5M	N/A	$-64.0M	N/A	N/A

Per the SEC financials, revenue rose from $66.4M in FY 2023 to $235.2M in FY 2025, and net income moved from $9.5M to $-24.0M in FY 2024 before returning to $36.5M in FY 2025. Free cash flow was negative in all three reported periods. Per the Roarable RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 4/9, and Debt/Equity is 0.5. Per market data, gross margin is 0%, operating margin 37.7%, net margin 15.5%, and ROIC 10.4%. Debt of $289.9M against cash of $38.1M in FY 2025 indicates a net debt position on the reported figures.

Recent Catalysts & News Wire Analysis

Earnings catalyst: A headline indicates Abacus Global Management plans to announce third quarter 2026 financial results on Thursday, November 5, 2026, which is the nearest scheduled event in the feed.
Analyst-sentiment headline: A MarketBeat item reports the stock is rated "Moderate Buy" by Wall Street analysts, though the analyst section of this dossier contains no underlying data.
Earnings-growth headline: A Yahoo Finance item asks whether the company's expected earnings growth makes it a buy; the article body is not provided.
Insider activity: Stock Titan reports a director received 13,400 shares in a no-cost fund distribution.
Screen mention: A TradingView item lists ABX among financial stocks with strong revenue growth and attractive valuations, tagged as a catalyst.
Butterfly graph: Per the Butterfly Supply-Chain Graph, the supply chain is "NONE," there are no butterfly links, and no proprietary signals are recorded.

Watch items: the earnings release date, and whether reported results reconcile with the negative free cash flow shown in the financials.

Open Questions

What is the source of the negative FY 2025 free cash flow of $-26.6M given operating income of $88.8M, and is the gap structural?
What drove the swing from FY 2024 net loss of $-24.0M to FY 2025 net income of $36.5M, and is it repeatable?
What is the composition of the $289.9M debt, and what are its maturities and rates?
What business lines generate the reported revenue, and how do they relate to the Investment Managers classification?
What do the reported third quarter 2026 results show once released on November 5, 2026?

ABX Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Abacus Global Management Inc. (Class A) (ABX) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to ABX Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo Finance UK • 10h ago

Abacus Global Management, Inc. (ABX) latest stock news and headlines

Yahoo Finance UK report covering Abacus Global Management Inc. (Class A) (ABX) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 13h ago

Abacus Global Management, Inc. (ABX) Earnings Expected to Grow: Should You Buy?

Yahoo Finance report covering Abacus Global Management Inc. (Class A) (ABX) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE MarketBeat • 16h ago

Abacus Global Management, Inc. (NYSE:ABX) Stock Rated "Moderate Buy" by Wall Street Analysts

MarketBeat report covering Abacus Global Management Inc. (Class A) (ABX) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 19h ago

Abacus Global (ABX) director receives 13,400 shares in a no-cost fund distribution.

Stock Titan report covering Abacus Global Management Inc. (Class A) (ABX) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST TradingView • 22h ago

Financial stocks with strong revenue growth and attractive valuations

TradingView report covering Abacus Global Management Inc. (Class A) (ABX) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Abacus Global Management to Announce Third Quarter 2026 Financial Results on Thursday, November 5, 2026

Yahoo Finance report covering Abacus Global Management Inc. (Class A) (ABX) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Investing.com Canada • 1d ago

Form 4 Abacus Global Management Inc: Adam Samuel Gusky (Director) For: 27 October

Investing.com Canada report covering Abacus Global Management Inc. (Class A) (ABX) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔴 RISK WATCH MarketBeat • 1d ago

Abacus Global Management (NYSE:ABX) Stock Price Target Cut by Piper Sandler

MarketBeat report covering Abacus Global Management Inc. (Class A) (ABX) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

ABX Bull vs. Bear Conversation Board — What's Your Call at $8.47?

🐂 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON ABX 🐻 67% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $7.58 (-12.0%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is ABX (D- • RQD 43/100) a Buy at $8.61?

Welcome to the ABX (Abacus Global Management Inc. (Class A)) Roar Pit. Current RQD Composite is 43/100 (Roarable Sell — Vulnerable Balance Sheet & Flow) in Investment Managers. Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

SK SkepticalCFA Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $7.23 (-16.0%)

Spot @ $8.61

Pump the brakes on ABX — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on ABX, but look at what you are paying: 23.1x trailing P/E with tightening sector spreads. Unless Abacus Global Management Inc. (Class A) expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

CA CashFlowKing Verified K Arena Trader 🐂 BULLISH 🎯 Target: $9.82 (+14.1%)

Spot @ $8.61

ABX cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on ABX, the market is fixating on short-term headline noise in Investment Managers and ignoring the balance sheet and cash flow trajectory. At $8.61 (52-wk range $5.00 - $12.44), any beat on forward guidance forces shorts and underweight funds to chase.