(Bloomberg) After quitting his job at a $7 billion hedge fund to go it alone three years ago, Adam Schwartz happened upon a short so certain he built a notional position amounting to half his fledgling firm’s assets on it. He’s been borrowing shares and stockpiling bearish options on exchange-traded funds that track major credit indexes, confident that a blow-up in fixed income will hit these passive vehicles the hardest.
Hedge Fund Manager Stakes Own Cash on a Bet Against Credit ETFs
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