The International Monetary Fund (IMF) previously deemed Deutsche Bank as the most systemically dangerous bank in the world. Two weeks ago, when looking at the latest hedge fund 13-F reports (for Q3) Goldman found two remarkable, if perhaps expected, things: following the summer rout in some beloved tech names such as Facebook, the 2 and 20  (more like 0.5% and 5% these days) industry had retrenched and hunkered down, and as a result, hedge fund net exposures had steadily declined throughout 2018, including during 2Q and 3Q while the broad equity market rallied.