Hedge Fund Investor Who Called Housing Crash Eyes Venezuela Debt
- Altana Credit Opportunities Fund was up 27% through August
- Lee Robinson says odds of US sanctions relief have risen
By Maria Elena Vizcaino / bloomberg.com
A hedge fund manager who correctly timed the crash of the US housing market and a crypto currency rally eight years ago thinks he’s found his next overlooked investment: Venezuelan debt.
Bonds the country defaulted on nearly five years ago are trading around record lows, with some oil debt available for 2 cents on the dollar. Adding to the risks, the government is under sanctions that prohibit US investors from buying the notes.
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