Balyasny Notes October "Washout", Warns Of Currency War

Sometimes it takes a stock market flushing to shake out the weak hands, which is what happened in October, says Balyasny Asset Management. October saw “huge position washouts” that appeared indiscriminate and spread across most asset classes and strategies, according to a monthly investor letter and transcript of a recent conference call reviewed by ValueWalk. But then the huge really in U.S. equities saw a sharp trend in a falling yen, euro and commodities. Stocks in Europe continued to underperform along with emerging markets while interest rates remained generally range bound, the letter observed, saying these trends are likely to…