Nailing a thesis on a short thesis trade can be gratifying. Just ask Balyasny Asset Management’s Daniel Gish, cited in a recent Bloomberg Brief article for generating $15 million in profit by shorting the senior bonds of Portuguese lender Novo Banco SA. But what about the fish that got off the line due to a hedge fund closure? Those trading stories, much more numerous, seem to sting. Short thesis – As BTG Pactual fund closed, Scott Wilson’s short thesis on Novo Banco bonds was a causality Just ask Scott Wilson, 49, a London money manager for Grupo BTG Pactual’s…
Hedge Funds Lament "The Fish That Got Away" Short Thesis Trade; One Blows Up
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.