I feel so sorry for the hedge fund guys.....NOT !!!
Like betting on Twice a Prince in the 1973 Belmont hoping to win the 17-1 odds.
the point of a hedge fund is to provide a hedge against something? Sounds like the Greeks defaulting is pretty much a given, so what were they hedging against?
Why would anyone buy Greek bonds over the 5 years unless they
are idiots.
They bet on the government one too many times.
About time they get spanked, should have happened in 2006.
These hedge funds took a calculated risk, and now it looks like they’re going to lose. They certainly enjoyed the very high yields while they received them.
http://www.tradingeconomics.com/greece/government-bond-yield
At 15% yield, they earn their original investment back in only about 5 years.