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☆ Hedge Fund Bets Against Hong Kong’s Dollar Peg Have a Long History—and Little Success
▼ + stars: | 2022-12-19 | by ( Matthew Thomas | ) www.wsj.com time to read: 1 min

When Bill Ackman revealed last month that he was betting the Hong Kong dollar’s peg to the greenback would break, he became the latest in a long line of speculators who have made similar wagers. Hedge funds have made bets against the longstanding currency peg going back to the Asian financial crisis. High-profile fund managers including Crispin Odey and Kyle Bass are among those who have previously taken positions that the peg couldn’t last. Mr. Ackman’s fund, Pershing Square Capital Management, even once made a bet from the opposite side more than a decade ago. Boaz Weinstein , the founder of Saba Capital Management LP, is betting alongside him this time.

☆ Hedge fund manager who is up 145% this year says the British pound isn't done falling after hitting record low
▼ + stars: | 2022-09-27 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

The British pound could fall further and reach parity with the US dollar, according to hedge fund manager Crispin Odey. His firm's flagship European hedge fund is up about 145%, mostly after shorting government bonds like British gilts. On Monday, the pound sterling hit an all-time low against the dollar of $1.035 but recovered somewhat to reach $1.067 on Tuesday. Odey's flagship European hedge fund is up about 145%, according to the FT, mostly after shorting government bonds like British gilts. Other firms have also profited from shorting the pound sterling.

☆ Odey's hedge fund soars 145% on bets against UK bonds - sources
▼ + stars: | 2022-09-22 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

REUTERS/Henry NichollsLONDON, Sept 22 (Reuters) - Crispin Odey, one of Britain's best-known hedge fund managers, has made a killing this year by wagering against British government bonds, with his firm's main fund up 145% in 2022 after shorting long-dated UK debt, sources said on Thursday. The UK 10-year gilt yield hit 3.392% on Thursday, its highest since July 2011, after the Bank of England lifted rates and said it would soon start selling government bonds. His fund's largest notional exposure is betting against very long dated bonds, some as far out as 2071, the source said. He is known for a volatile performance, with his fund regularly posting double-digit annual gains or losses. His flagship fund experienced its worst-ever losses of almost 50 percent in 2016, a year that Odey has since described as awful.

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