Hedge Funds Titans Bet Big Against the Euro

February 26th, 2010
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Several high profile hedge fund managers, including SAC Capital Advisors and Soros Fund Management, are betting big against the Euro based on the belief that the value of the Euro is likely to decline to a point where it will be equal to the US Dollar. The Euro is currently trading at $1.35, compared to $1.51 in December, and a further decline to $1 could translate into enormous profits for these hedge funds.

The trade is rumored to be the result of an “idea dinner” in Manhattan hosted by a boutique investment bank and attended by a group of exclusive hedge funds. A similar scenario occurred in 2008 when several hedge funds, including Greenlight Capital, bet against Lehman Brothers and other financial services securities, which many critics believe accelerated their decline.
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For Detailed Investor Profiles on these Investors, click below:
Greenlight Capital
Point72 Asset Management (SAC Capital)
Soros Fund Management
Related People: ; Douglas Haynes (President); Bruce Gutkin; Chandler Bocklage*; David Einhorn; George Soros; Harry Brandler; James Lin; Jeff Eberwein; Jeffrey A. Keswin*; Keith Anderson*; Nelson Heumann; Peter Nussbaum*; Robert Donald; Robert Soros; Scott Bessent; Sol Kumin*; Steven A. Cohen; Ted Orenstein*; Tom Conheeney*; Vinit Sethi; Zameer Arora
Related Entities: Canvas Capital*; CR Intrinsic Investors*; Cubist Systematic Strategies; DME Advisors LP; EverPoint Asset Management; Greenlight Capital Inc; Greenlight Masters LLC; Greenlight Private Equity Partners; Pharos Financial Group (seeded) ; Quantum Emerging Growth Fund; Quantum Fund; Quantum Group of Funds; S.A.C. Global Investors; SAC Meridian; SAC MultiQuant; Sigma Capital Mgmt; Soros Capital LP; Soros European Equity Fund; Soros Quantum Endowment Fund; Walter Capital*
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News

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