Marshall Wallace Bets Against U.S. Homebuilders
|May 4th, 2010||
|London-based hedge fund manager Marshall Wace Asset Management is betting against U.S. Homebuilders based on its prediction that housing prices will drop 10 to 20 percent. Amit Rajpal, the portfolio manager of the $250 million Marshall Wace Global Financials Fund, announced that his fund will short homebuilders based on the investment thesis that housing demand will wane as result of the expiration of tax credits and an increase in supply from continued mortgage defaults.|
The fund is implementing its strategy by purchasing stocks that are shielded from another downturn in the housing sector and shorting the companies which are poised to suffer.
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