Lee Robinson Bets on Impoverishment of the West by the Hands of Governments

August 5, 2011

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John Paulson carved out a separate fund to bet against the housing market. Mark Hart set up a fund to bet against European sovereign debt, then another one devoted to a China collapse. Now, Lee Robinson has set up a fund to bet against the US and Europe.

Lee Robinson, the outspoken founder of London hedge fund Trafalgar Asset Managers and former top Tudor Investment Corporation trader, is readying a new hedge fund to profit from the devaluation and collapse of western economies. Mr Robinson has already begun marketing of his new “Altana Sovereign Diversity Fund” to investors. The fund is positioned to take advantage of the devaluation of the dollar and “stealth defaults” of developed countries, reflecting Mr Robinson’s long-held bearish views on the prospects for the global economy. Marketing materials for the new fund seen by the Financial Times identify France, Germany, Italy, Spain, the UK and US as countries that it will be positioned against. The fund is designed to “profit from the global secular wealth shift from debtor to saver nations”, the presentation says. “Based on the increase in the quantity of paper money, wealth may fall 30-60 per cent. This trend would likely take generations to reverse,” it continues. Mr Robinson quotes the economist John Maynard Keynes on the frontispiece of the confidential presentation, which has been discreetly distributed to potential investors: “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”

FT

HS

Not a good sign for US and European citizens.

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