Global equities were net purchased by hedge funds for a second consecutive week in the five trading sessions through last Thursday, according to Goldman Sachs. Long purchases exceeded short sales by 1.4 to one, signalling a renewed willingness among hedge funds to take directional risk. Hedge funds responded by cutting equity exposure, selling long positions and closing short trades. Hedge funds were net buyers of individual stocks for the first time in about a month, rebuilding positions as market sentiment improved. For now, the data point to a renewed willingness among hedge funds to take risk.