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World’s biggest hedge fund bets £8.6bn European stock market will keep falling

City AM logo City AM 24/06/2022 Jack Mendel

Bridgewater Associates, the world’s biggest hedge fund, has bet £$8.56bn ($10.5bn) that Europe’s stock market will continue to decline.

The US investment management firm shorted shares of 28 European companies, including bets of more than £407m ($500m) against 28 firms.

The Bloomberg data, reported by the Times, says among the European firms shorted are France’s Total and German software maker SAP.

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The figures show that in the last week, Bridgewater’s wager was at almost $6bn against just under 20 firms.

The firm, founded by billionaire investor Ray Dalio, now manages about $150bn worth of assets.

Greg Jensen, Bridgewater’s co-chief investment officer, told Bloomberg TV last week there was a “fair amount to go” in the stock market sell-off.

“We’re finding out at what level the private sector by itself can support these assets and, from our calculations, it would suggest that it’s much lower than the current levels,” he told Bloomberg TV.

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