Alex Gluyas

The high-profile resources investor unloaded on Raper Capital’s Jeremy Raper after Raper declined to share his views on an ASX-listed minnow.

Chief executives were quick to reference “AI” when talking to investors and analysts in reporting season, but short sellers say this could be a sign to bet against the stock.

After a 50 per cent collapse, prices for the cryptocurrency suddenly rallied more than 20 per cent last week, forcing hedge funds to buy by the token.

The local sharemarket is set to rebound on Monday, but traders are on edge about an accelerating wave of bad news in the final week of the annual reporting season.

The high-profile stock picker manages $220 billion and had been one of the AI trade’s biggest bears, having warned it could be worse than the dotcom bubble.

The wall of passive money chasing blue chips has left smaller companies ripe for the picking as suitors start to pounce.

The hedge fund offset its heavy chip losses in July by betting against SpaceX and Tesla, while Hyperion is on the other side of that trade.

The hedge fund covered its short in the embattled travel giant at just 17¢, and also disclosed its bet against Elon Musk’s SpaceX.

Sage Capital and Ten Cap are among an army of funds betting against Andrew Forrest’s Fortescue, while short interest in Rio Tinto and BHP is at the highest level in years.

Early investments in two bitcoin miners turned AI darlings rocketed Tectonic to top spot, beating out a bunch of resources funds that have also soared during the year.