When Michael Platt says a long term investment is a trade gone wrong and at the same time has moved all $30 billion of Bluecrest Capital out of the normal trade environment, it's news. His fearless answers are posted in the Bloomberg interview below. Two year money with Germany and the US at near zero returns is not a chicken little choice, it's the position of a mountain lion crouched in a tree over a game trail.Choice observations: Banks will be moving illiquid assets onto the street. (The value of even productive but illiquid assets will fall). The Eurozone is pursuing procyclical strategies which make downturns worse. Money is made coming out, not going into downturns. Interestingly, he moved their operation from the Eurozone to Switzerland to avoid expected EU regulatory attacks. h/t Mish of Global Economic Analysis where a partial transcript is posted: $30 Billion Fund Manager Makes Case for Being Totally on Sidelines in Treasuries and German Bonds
The video:
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