This China Bear Sees Reprieve for Emerging Market Currencies
- Counterpoint's Barker says investors exiting bearish bets
- Hedge-fund manager made money from rupiah, ringgit surge
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Geoffrey Barker, a HSBC Holdings Plc economist-turned-hedge fund manager, said emerging-market currencies will remain stable or gradually appreciate “for a while” because he doesn’t expect an imminent collapse in the Chinese economy.
Barker, a self-proclaimed “China bear,” said in an an e-mail that investors are exiting bearish bets in emerging-market currencies and that the roughly $160 million Counterpoint Asian Macro Fund that he leads made money betting on the recent surge in the Indonesian rupiah and the Malaysian ringgit. Barker said he has closed the rupiah trade, while declining to comment further on his holdings.