Those who know do not speak, those who speak do not know
Wednesday, October 19, 2011
"Morgan Stanley Is Shorting France"
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
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