Burbank's Passport Says No Place Safe in China-Led Decline
- Fund rose 6.7% in third quarter, 18% in 2015 through September
- Worsening Chinese economy could result in end of dollar peg
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One of this year’s most successful hedge fund managers has a message for investors: watch out for China.
John Burbank’s main hedge fund at Passport Capital, which rose 18 percent in the first nine months of 2015 betting on macroeconomic events, has "greatly" cut its exposure to markets across the world as it prepares for a China-led global downturn, the investor said in a letter to clients Oct. 30.