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Investors are betting $1tn on collapse in global stock prices

Gulf Times- Managers from William Ackman to Jim Rogers made a total of at least $1.4bn in July with wagers against US mortgage financiers Fannie Mae and Freddie Mac, according to data compiled by Bloomberg.

Harbinger Capital Partners staked $665mn that UK mortgage lender HBOS would drop and Sao Paulo-based hedge-fund manager Francisco Meirelles de Andrade’s short selling of Cia. Vale do Rio Doce is also paying off.

More than $1.4tn of equities worldwide are now on loan, about a third higher than at the start of 2007, data compiled by Spitalfields Advisors, the London-based firm specialising in securities lending, show. Almost all of that is being used to speculate that shares will fall, according to James Angel, a finance professor at Georgetown University who studies short selling.

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