# kaal:claim:2748096-019

**Claim.** Redemption driven selling during the financial crisis of 2007-2008 was industry wide in scale: the hedge fund industry liquidated about 30 percent of its stock holdings.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- financial crisis of 2007-2008
- driven by investor and lender redemptions and the need to liquidate positions

**Source quote.**

> the hedge fund industry liquidated about 30 percent of its stock holdings (Ben-David et. al. 2012).

**From.** Wulf A. Kaal, Timothy A. Krause, *Hedge Funds and Systemic Risk* (2016), Risk-Management Incentives, page 8

**Cite as.** Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016). SSRN: https://ssrn.com/abstract=2748096

**Verify.** sha256 of source PDF `8f30260f2c1db728b45c4f3b9b7c64358cf9d3217277bc3c63a910c32f87b508` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Krause%20-%202016%20-%20Hedge%20Funds%20and%20Systemic%20Risk.pdf

**Topics.** empirical-evidence

**Keywords.** redemptions, forced-liquidation, equity-holdings, crisis-evidence

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