Ex-Perry CIO Who Bet Against Subprime Loads Up On Volatile Investments

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Mark Melin
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Updated on
Venezuela Smith Cove Capital

When he was chief investment officer at Perry Capital, David Russekoff was familiar with managing volatile investments. Russekoff reportedly earned Perry nearly $2 billion by betting against the housing market leading up to the 2008 financial crisis. Then he bet $15 billion on Greek and Argentine bonds, which had defaulted. Now at the newly formed Smith Cove Capital, Russekoff isn’t letting up on the gas pedal, as his Long / Short strategy is mixing volatile investments, a Q2 letter to investors dated July 25th, a copy of which was reviewed by ValueWalk, reveals. As Venezuela burns, Smith Cove likes investment…

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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.