Adam had the headline earlier: Swiss franc trade said to wipe out Everest’s biggest hedge fund
More info on whats going on with Everest:
- Marko Dimitrijevic has been in the hedge fund industry for many years
- He is closing his Everest Capital LLC’s Global fund due to losses sustained after the SNB decision
- The fund was effectively short Swiss francs
- Everest is based in Miami, and its reported that its other funds, with more than $2bn under management were not exposed to the Swiss franc and will continue
More here (the Wall Street Journal is gated): Everest Capital to Close $830 Million Global Fund After Losses on Swiss Franc
