Sunday, 21 December 2014
Last updated 12 hours ago
Sep 16 2008 | 8:51am ET
With a black cloud hanging over Wall Street, one short-selling manager says its time to cut positions and move into cash.
Douglas Kass of Seabreeze Partners Management, who hit it big betting against the now-nationalized mortgage giants Fannie Mae and Freddie Mac, told Reuters that he has cut back on positions—both long and short—throughout his portfolio.
“This is a time to watch and not a time to play,” he said. “It is a dangerous time for the longs and for the shorts.”
Kass, whose fund is reportedly up 25% year-to-date, declined to say what positions he had reduced or eliminated. Just last week, he said he was still shorting Fannie and Freddie.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.