{"id":354293,"date":"2010-02-23T11:46:00","date_gmt":"2010-02-23T16:46:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/corriente-hedge-fund-made-so-much-money-off-europes-collapse-theyre-giving-some-back-2010-2"},"modified":"2010-02-23T11:46:00","modified_gmt":"2010-02-23T16:46:00","slug":"hedge-fund-corriente-gives-cash-back-to-investors-after-making-a-killing-shorting-european-debt","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/354293","title":{"rendered":"Hedge Fund Corriente Gives Cash Back To Investors After Making A Killing Shorting European Debt"},"content":{"rendered":"

\"roller-coaster-peak\"<\/p>\n

Corriente’s European Divergence Master Fund LP is cashing out a portion of the profits they made shorting European government bonds now.<\/p>\n

A source at Bloomberg<\/a> says the hedge fund will be returning $320 million to investors in the fund, which was set up in late 2007.<\/p>\n

They still think there’s a great opportunity, and are offering investors a chance to invest in another fund that’s still making the same bet.<\/p>\n

But you have to figure that a move like this represents, to some extent, a desire to take chips off the table.<\/p>\n

Bloomberg suggests that the negative press <\/a>associated with shorting the economies of troubled nations might be also a factor, though the fund denies it’s done anything wrong.<\/p>\n

Hugh Hendry seems to not care about negative press<\/a> and to be betting on the continued decline of the Euro<\/a> nations anyway.<\/p>\n

Oh, and what is Corriente shorting next?<\/p>\n

China.<\/p>\n

Read the full article in Bloomberg.<\/a><\/p>\n

Join the conversation about this story »<\/a><\/p>\n

See Also:<\/b><\/p>\n