Sunday, 3 May 2015
Last updated 2 days ago
Jun 13 2014 | 1:10pm ET
Count on a weakening Chinese yuan to hedge your stock portfolio, a top Asia hedge fund manager advises.
Carl Huttenlocher, the former Asia head at Highbridge Capital Management who now runs US$2.4 billion at Myriad Asset Management, said that slowing growth in China will force the country to allow its currency to weaken. Huttenlocher listed the benefits to China from such a weakening at the Sohn/Karen Leung Foundation Conference in Hong Kong yesterday.
A declining yuan would improve China’s export competitiveness, increase inflation and reduce the country’s debt burden, Huttenlocher said. He recommended buying U.S. dollar call spreads against renminbi traded in Hong Kong to take advantage of the opportunity.
According to Huttenlocher, the yuan should fall to seven to the U.S. dollar, up from 6.2 currently.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…