Market Turmoil Not Done Proving Hedge Fund Manager Right, Hedge Fund Manager Says

It's gonna get crazier, and he's gonna get richer.

Sorry, world's second-largest economy: It's Ray Bakhramov's turn.

Ray Bakhramov has been waiting for these days, when the global markets would plummet and whipsaw and finally make him a mint. Three years, to be precise. Three years during which he lost a money. A lot of money: Down double-digits every year kind of money. And now that they’ve come, and made his money back and thensome, Ray Bakhramov isn’t ready to let go.

Forum’s main fund notched a 24 percent gain in July and jumped 60 percent the following month, fueled by short positions in the Chinese yuan and the Taiwanese and Singapore dollars, according to a letter to investors obtained by Bloomberg. All told, the fund has risen 107 percent this year through August….

"We’re basically long volatility," Bakhramov, who previously structured asset-backed securities at Credit Suisse Group AG, said in an interview last week. "We’ll have a lot of tremors and then a big shakeout. This is just the first."

Hedge Fund Rising 107% Sees More China, Emerging-Market Pain [Bloomberg]