Thursday, February 25, 2010

Hedge funds pound Euro

JOJO - launch into action! See below - the latest from WSJ

"Some heavyweight hedge funds have launched large bearish bets against the euro in moves that are reminiscent of the trading action at the height of the U.S. financial crisis.

The big bets are emerging amid gatherings such as an exclusive "idea dinner" earlier this month that included hedge-fund titans SAC Capital Advisors LP and Soros Fund Management LLC. During the dinner, hosted by a boutique investment bank at a private townhouse in Manhattan, a small group of all-star hedge-fund managers argued that the euro is likely to fall to "parity"—or equal on an exchange basis—with the dollar, people close to the situation say."


Alexandre said...

I suspect Joj is the one hedging against the Euro. As some of us earn in USD and have substantial liabilities in Euros, this may not be bad for the Abrantes... LOL.

Joj said...

You guys don't expect me to spill the beans on which ideas were played around at the dinner, do ya?