Thursday, 21 August 2014
Last updated 17 min ago
Apr 9 2014 | 9:34am ET
CQS head Michael Hintze says shorting the Australian dollar last year was an act of patriotism.
“There is no question the RBA [Reserve Bank of Australia] made it clear that it was in the best interest of the Australian economy for the currency to be lower,” Hintze, who sits on a panel advising Australia's Financial System Inquiry, told The Australian Financial Review.
“So at that stage you do your patriotic duty and try to help. That’s tongue in cheek but it was a fair trade,” said Hintze, who shorted the Australian dollar when it was trading at around 94 cents.
Although the dollar is back around the 93 cent mark currently, Hintze has closed his bet:
“If you are short you might be worried about China’s ability to keep consuming goods at the same pace. I think the RBA remains concerned about the currency but equally, they are also worried about issues such as inflation.”
London-based Hintze was born in China, the grandson of White Russians, and later studied physics and math at the University of Sydney.
CQS, with about $12 billion in assets, is a global multi-strategy firm.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note