PointState's Schreiber Says Saudi Riyal Peg Massively Overvalued

  • Fund long the Russian ruble, Mexican peso against the dollar
  • The long currency trades fund the cost of the riyal short

PointState Capital’s Zach Schreiber, who made $1 billion betting against oil two years ago, said he’s short the Saudi riyal against the U.S. dollar, wagering that weaker long-term crude prices and growing costs will cause the country to abandon a three-decade-old currency peg.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.