“The best course of action is to take risk off,” said Highbridge Capital’s Glenn Dubin at SkyBridge Capital’s hedge fund confab in Las Vegas. Dubin thinks there is a lot of risk in the market now, and Highbridge is reducing its balance sheet dramatically, moving to a defensive position.
“We are seeing massive de-risking and de-leveraging,” Dubin’s told CNBC’s David Faber. He also called Germany’s move to ban bearish bets on certain European debt and financial stocks “ill-advised.” As for the Volcker rule, which would affect the JPMorgan-owned Highbridge, Dubin said he disagreed with its premise because financial the business is not too big to fail and, therefore, not in jeopardy being bailed out by taxpayers.
Jamie Dinan of York Capital, also at the SkyBridge conference, told Faber his firm is taking risk off the table. “We don’t usually try to overreact to external stimuli, unfortunately the stuff around here right now is more than just noise.” It also doesn’t help that Germany “just doesn’t seem to get it.” York is increasing its hedges in equities and taking risk off in its credit portfolio, Dinan said.
You’re starting to grow on me Zach. Just like my genital warts.
@1 Comments are closed. Please respect.
“Dubin said he disagreed with its premise because financial the business is not too big to fail and, therefore, not in jeopardy being bailed out by taxpayers.”
Proofreading is underrated.
@1 – Agreed.
His unique brand of no humour, uninteresting facts and dull writing makes for an infectious cocktail!
BECAUSE FINANCIAL THE BUSINESSS
NOT IN JEOPARDY BEING BAILED OUT
10,452!
It’s de-risking, it’s de-leveraging, It’s de-lovely!!
financial the business?
god you’re pathetic.
-mom
wow zach. wow.