Tuesday, May 22, 2012

Interview of the week: Michael Platt (BlueCrest)

Eurobonds Needed if Greece Leaves Euro, Platt Says
Michael Platt, founder of BlueCrest Capital, talks about the European debt crisis, investment strategy, and JPMorgan's $2 billion trading loss. BlueCrest is one of the largest hedge funds in the world with $32B AUM.

They [JP Morgan] are not out of those positions. If we end up with a catastrophe in Europe in the short run, they’re probably not positions that anyone would want to have.”

I don’t think they could be described in any way as a hedge. I think it’s a trading loss. They deliberately put the positions on. The London whale, who has subsequently been harpooned, put the positions on.”

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