Stephen Diggle Hedge Fund
Stephen Diggle's New Hedge Fund Betting on Volatility
Stephen Diggle made a name for himself in 2007 and 2008 by making his investors $2.7 billion. The Singapore-based hedge fund manager has been very active betting on price changes in government debt, currency and commodity markets.
There has been an “unprecedented level of transfer of indebtedness from banks to governments” after the global financial crisis that followed the 2008 collapse of Lehman Brothers Holdings Inc., said Diggle, who started Vulpes Investment Management after liquidating Artradis Fund Management Pte’s volatility funds this year.
“The fault lines have moved away from the private sector to the public sector,” Diggle, 47, said. “These sorts of distortions are coming about principally because of government activity rather than excessive fear or greed amongst investors, which is what normally causes volatility.”
European leaders are trying to keep the bailouts of Greece, Ireland and Portugal from spreading to Spain and Italy, and ratings firms have threatened to cut the U.S.’s AAA credit rating. In contrast, non-financial companies’ balance sheets are strong and stock valuations are currently “not extreme,” Diggle said. Source
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