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Korean Hedge Fund Starts Buying Samsung on Bet Bottom Is Near

  • Billionfold started adding Samsung this week, CEO says
  • The fund had 1% loss in January-June, while Kospi tumbled 22%

South Korean hedge fund Billionfold Asset Management Inc. said it started buying Samsung Electronics Co. this week on the view the stock’s plunge of almost 40% from a record high is coming to an end.  

Excessive selling has made Samsung shares attractive, An Hyungjin, the chief executive officer of the 170 billion won ($130 million) fund, said in an interview in Seoul on Wednesday.  “We are nearing the bottom,” An said.