Hedge Fund Passport Bets on Bitcoin

John Burbank and his hedge fund Passport Capital plans to “launch a new arm that focuses only on cryptocurrencies” in an effort to match his financial crisis-era success. This according to an article in The Wall Street Journal. Burbank became well-known by purchasing credit default swaps ahead of the financial crisis, which led to a more than 200% gain for his main fund in 2007 (and personal profits of $370 million).  Since that time, however, the… Read More

Passport Capital’s Burbank Betting Against EM & Commodities (And Getting it Right!)

John Burbank of Passport Capital is predicting continued weakness for emerging markets and a slowdown domestically, which he believes will force the Federal Reserve to reverse course on its stance to start increasing interest rates. Previous rounds of QE (or quantitative easing) “had caused a misallocation of capital across the world” according to Burbank. “The wrong people got the capital — emerging markets countries and corporates and a lot of cyclical companies like mining and… Read More

Passport Capital’s Burbank Betting Against EM & Commodities (And Getting it Right!)

John Burbank of Passport Capital is predicting continued weakness for emerging markets and a slowdown domestically, which he believes will force the Federal Reserve to reverse course on its stance to start increasing interest rates. Previous rounds of QE (or quantitative easing) “had caused a misallocation of capital across the world” according to Burbank. “The wrong people got the capital — emerging markets countries and corporates and a lot of cyclical companies like mining and… Read More