Michael Hasenstab, who made his name betting on economic recoveries, stomached big losses across six funds.
A big-name fund manager lost almost $1.8 billion on Monday after Argentina's financial markets suffered a historic collapse, according to the Financial Times. Michael Hasenstab stomached losses across six funds after Argentina's currency, stock market, and bond prices plunged following president Mauricio Macri's shock primary loss. Hasenstab made his name by placing large, lucrative bets on ailing economies rebounding from the financial crisis.
A big-name fund manager lost almost $1.8 billion on Monday after Argentina's financial markets suffered a historic collapse, according to the Financial Times. Michael Hasenstab stomached losses across six funds after Argentina's currency, stock market, and bond prices plunged following president Mauricio Macri's shock primary loss. Hasenstab made his name by placing large, lucrative bets on ailing economies rebounding from the financial crisis.
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