Archive for August, 2013

WSJ: Emerging Markets: Are We There Yet?

Honestly, it’s questionable whether that matters. Who wants to sit on EM positions waiting for the big day? Many will get out sooner. Many already have. As Stephen Jen, co-founder of hedge fund SLJ Macro Partners said last week: “People are debating September, October or December… give me a break.”

Read the original article on the ‘Wall Street Journal’ website.

Business Recorder: Sovereign funds’ fortunes turn as emerging assets sour

“SWFs are the ones who got involved but they were not in private equity. They owned public equities and bonds. That’s the big distinction,” said Stephen Jen, managing partner of London-based hedge fund SLJ Macro Partners.

“Because institutional infrastructure is so fragile and non-transparent in emerging markets, it’s much better, risk-adjusted, for you to have a bigger presence in the company that you invest in. I can see with private equity how people make money in emerging markets if they are careful.”

Read the original article on the ‘Business Recorder’ website.

IFA Magazine: Market overview: Sell-offs to continue, Stephen Jen says

On the subject of recent volatility in emerging markets and US Treasuries this is what Stephen Jen, co-founder of hedge fund SLJ Macro Partners in London (and ex-Morgan Stanley FX strategist) is telling The Wall Street Jorunal: ‘How much further can these sell-offs run? Whatever you think is reasonable, double it. These things always overshoot [...] the timing of the taper doesn’t matter. People are debating September, October or December [...] give me a break. The economy is turning. Developed-market economies are bottoming out. The monetary policy we have is no longer appropriate, and there will be a gradual shift over time.’

Read the original article on the ‘IFA Magazine’ website.

WSJ: Fed Minutes Deliver Fresh Blow To Emerging Markets

“How much further can these selloffs run? Whatever you think is reasonable, double it. These things always overshoot,” said Stephen Jen, co-founder of hedge fund SLJ Macro Partners in London.

“The timing of the taper doesn’t matter. People are debating September, October or December… give me a break. The economy is turning. Developed-market economies are bottoming out. The monetary policy we have is no longer appropriate, and there will be a gradual shift over time,” he said.

Read the original article on the ‘Wall Street Journal’ website.

Reuters: Analysis – Sovereign funds’ fortunes turn as emerging assets sour

“(SWFs) are the ones who got involved but they were not in private equity. They owned public equities and bonds. That’s the big distinction,” said Stephen Jen, managing partner of London-based hedge fund SLJ Macro Partners.

“Because institutional infrastructure is so fragile and non-transparent in emerging markets, it’s much better, risk-adjusted, for you to have a bigger presence in the company that you invest in. I can see with private equity how people make money in emerging markets if they are careful.”

Read the original article on the ‘Reuters’ website.