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Some hedge fund managers simply cannot believe that the rather unimpressive sanctions imposed in the phony Cold War between Russia and the west (due to the slightly-less phony war between Russia and the Ukrainian navy, itself due to Vladimir Putin’s need for a peninsular paradise in which to vacation, or something) are the end of the story. And, whatever happens, they would prefer not to lose money on the story. Ideally, they’d like to make some.
Hedge fund managers are making changes to their funds and preparing for further sanctions against Russia, which they believe could be more severe then what has been enforced to date….
“So far, it’s been relatively mild. But I think if there is going to be wider impositions of sanctions, which I think is the program they’re speaking of, in the next phase of the sanctions it would be much more severe,” Kumar told CNBC at the Investor’s Choice Hedge fund Awards on Tuesday, a hedge fund industry event.
“And if that were to be imposed, I think there would be implications for global growth and implications for asset market valuations or stresses, banking stresses to develop. I think all of those could start to come into play and asset markets would get hit in that situation,” he added.
Kumar said he was building elements into his fund to both take advantage of and protect against the situation….
“Trades I have on at the moment include a long position in the grains in Europe, to benefit from that [Russian sanctions]. I also have position on long palladium, to benefit from supply from Russia. So there will be trading opportunities from further escalation,” said Meadows….
“What you see with some managers is that they’re overlaying their portfolios with some macro hedges (software which tracks portfolios to ensure a certain level of risk is maintained) just if the situation escalates going beyond what we’ve seen where the escalation currently is,” Storr told CNBC.