Credit Suisse Shorts Jumped Even as CEO Called Bets Wrong: Chartby and
Hedge funds raised their bets against Credit Suisse Group AG even after Chief Executive Officer Tidjane Thiam told staff in a memo last week that it’s wrong to assume that the lender will have to raise additional capital. Short interest was 3.3 percent of shares outstanding on Wednesday compared with 2.3 percent a week earlier. Thiam has been seeking to bolster profitability and restore investor confidence since taking over in July. The Swiss lender has lost about 40 percent of its market value this year, touching the lowest since at least 1989 on June 16, data compiled by Bloomberg show.