Greek Elections

So the Syriza party has won. FX markets are opening back up and as you can see the EURUSD is back under pressure to the downside.

There is nothing surprising about this election nor about the movement of the EURUSD. The Greek tragedy is far from over however. Syriza is going to negotiate hard with the ECB and the EU. I don’t see any scenario where they won’t ultimately leave the EU which would be in their best interest. Read more

Macro hedge fund Everest Capital crushed by EURCHF move

I’m sad to read today on Bloomberg about Everest Capital’s oldest hedge fund biting the dust over the moves in the EURCHF. Marko is a legend and has weathered some incredible storms out there. Everest is one of the longer running global macro shops out there and their founder was interviewed in one of my favorites books Inside the House of Money by Steven Drobny. Read more