学游减仓(from Barron's)

Diffusion

是学游的Avatar: Einhorn

======

Cautious on Global Growth, Einhorn Cut Stock Exposure: Conference Call
By Brendan Conway
Hedge-fund manager David Einhorn told listeners on this morning’s Greenlight Capital Re Ltd. (GLRE) earnings call that the firm cut its net exposure in half during the recently concluded quarter. “[W]e ended the September [quarter] more conservatively positioned at 26% net long,” Einhorn, the reinsurer’s chairman, said on the call, according to CallStreet’s raw transcript.

The economic slowdown in Europe, Japan and China, as well as the “fiscal cliff” in the U.S.” and “desperate” monetary policies were among the worries cited, leading the firm to hold onto a “sizeable” position in physical gold “as well as other asymmetric risk reward macro hedges.”

From the transcript:

Despite rising markets which have been supported by the various Central Bank monetary policies of continual printing, we are concerned about several headwinds which conclude an economic slowdown in Europe, Japan and China, a rising key commodity prices including food and energy and a slight deterioration in corporate earnings growth.

During the quarter, we cut our net exposure in half and we ended the September more conservatively positioned at 26% net long. Our gross short exposure increased from 53% to 70% and we had a modest decrease in our gross long exposure as we took some profits in the rising market. …

We continue to closely watch the actions of central bankers and maintain a sizeable position in physical gold, as well as other asymmetric risk reward macro hedges to help protect against potential negative ramifications of desperate monetary policies, the tenuous fiscal position of many countries and the risks associated with the coming U.S. election and fiscal cliff in early 2013.

hellofriend

bububaba

生产力老大原型很强大:)

befriend

silicon_beaver

a bearish guy.   

befriend