This content is from: Premium
Discovery Capital Clocks Losses on Swiss Franc Bet
Robert Citrone’s firm had been short the Swiss currency for years but was able to mitigate the damage by acting quickly, the manager told investors.
Customers line up to exchange currency after Switzerland's surprise move last Friday (Bloomberg) Robert Citrone’s Discovery Capital Management is the latest hedge fund firm to disclose a loss on a big negative bet on the Swiss franc. However, Citrone was able to mitigate the decline — unlike Marko Dimitrijevic’s Everest Capital, which
To continue reading, subscribe now to Premium Journalism. Already a subscriber? Login.