Hedge fund manager Boaz Weinstein bets market is wrong on Credit Suisse

Published by
Reuters UK

By Nell Mackenzie LONDON (Reuters) – Hedge fund manager Boaz Weinstein doesn’t believe Credit Suisse will default on its debt but if it does, the derivatives trade he has on the bank may win big, highlighting just how hedge funds use volatile markets to try and generate juicy returns. Speculators increased bearish bets on the Swiss bank last year on concern about how much capital it would need to bolster its balance sheet in a confidence crisis deepened by unsubstantiated social media reports on the bank’s financial health. Hedge funds and other speculators borrowed just over a fifth of Credit…

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