Wednesday, October 19, 2011

"Morgan Stanley Is Shorting France"

From CNBC's NetNet:

Morgan Stanley [MS  16.86    0.23  (+1.38%)   ] said Wednesday that it had hedged its exposure to France so much that the number is actually negative $286 million.

In other words, once you take into account Morgan Stanley's hedges, the Wall Street firm is short France. Meaning, it is positioned to profit from a financial crisis in France.

Without the hedges, Morgan Stanley has around $1.53 billion to risks linked to Fra