CQS Chief Calls AUD Short 'Patriotic'

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.


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

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

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note