Amid 19% Return, Chenavari Worried About Geopolitical Risks

Amid troubles in Europe and around the world, Chenavari Investment Managers, one of Europe’s top hedge funds, notes a few positives but considers with concern market complacency. Chenavari concerned about global tensions While global tensions continue to concern fund managers such as Chenavari – but apparently not bother other stock market investors in a stimulus stupor – in Europe, talk of full blown QE persists and “the denouement of the Banco Espirito Santo SA (ELI:BES) story lead to state intervention,” a few bright spots exist. In an investment letter reviewed by ValueWalk, Chenavari notes that Spanish GDP outperformed the consensus, and…