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The "Most Bearish Hedge Fund" Capitulates: "We Are Beginning To Close Parts Of Our Short Book"

The "Most Bearish Hedge Fund" Capitulates: "We Are Beginning To Close Parts Of Our Short Book"

One month ago we reported that having successfully avoided a calamity for most of 2016 despite being massively net short, somewhere to the tune of around -90%, at times rising as high as -105%, Horseman Globa, finally had a bad month. In fact, losing -12.80% in November the hedge fund which we previously dubbed "the world's most bearish hedge fund" due to its staggering net bearish bias, had just suffered its worst month in history as "the short book, the bond book and the forex book lost money."

Former Newspaper Editor Who Exposed CIA Found Dead

Dr Udo Ulfkotte, the former German newspaper editor whose bestselling book exposed how the CIA controls German media, has been found dead. Ulfkotte was an editor at Frankfurter Allgemeine Zeitung, one of the largest newspapers in Germany, when he published Bought Journalists, the bestselling book that cost him his job and perhaps his life. He was 56. German media, who were banned from reporting on his work in recent years, are reporting he died of “heart failure”.

Theresa May To Call For "Clean And Hard Brexit" As UK Warns Of "Market Correction"

While the track record of the Sunday Times over the past 24 hours is somewhat spotty, following a report that as his foreign trip abroad once officially president, Trump is planning a summit with Putin in Reykjavik, which in turn was promptly denied by Trump staffers who called the story "fantasy", overnight the paper also reported that UK Prime Minister Theresa May will announce that Britain is "seeking a clean and hard Brexit" in a speech this week that will promise to create a “strong new partnership” with the European Union.

Why Morgan Stanley Thinks Stocks "Will Do Worse Under The New Administration"

We start our Sunday with some gloomy predictions from Morgan Stanley's appreciately named "Sunday Start" periodical, in which the bank's Chief Global cross-asset strategist, Andrew Sheets, explains why the market return under the Obama administration will be a tough act to follow. His argument in a nutshell: "good market environments often involve a shift from economic despair to optimism, and a shift in psychology from ‘fear’ to ‘greed’. Both occurred over the last eight years, producing returns well above the long-run average.

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