The largest hedge fund in the world, Bridgewater Associatesraises his attack against the totems of the IBEX 35 when entering Iberdrola and raise your bet on BBVA and Santander Bank. The hegde fund founded by ray dalio in the 1970s, he returned to his target of bearish attacks on the main representatives of the selective, as it already happened in 2020 and 2018. The investment vehicle of one of the most reputable gurus in wall street 0.53% of Iberdrola’s share capital has surfaced, according to the records of short positions of the National Stock Market Commission (CNMV).
The supervisor’s history shows that Bridgewater added more than 5 operations on the electricity company in the year of the coronavirus, at least with positions above 0.5%, the minimum percentage of a short position that is made public. The largest charge against the shares of the company run by Jose Ignacio Sanchez Galan It was on March 12, 2020 when it accumulated 0.8% of the currency. The same radiography offers the operation of the fund located in Connecticut in BBVA. The current position is 0.6%, from 0.51% last week, and the greatest weight was also recorded on March 12 two years ago when it accumulated up to 0.89% against the shares of the entity commanded by Carlos Torres-Vila.
Regarding Banco Santander, whose position was made the same day as in BBVA, the attack has also increased, up to 0.63% of the titles and, like the other cases, the maximum position was produced with the first movement as a result of the outbreak of the coronavirus in 2020 by accumulating the same 0.89% as in BBVA against the titles of the bank chaired by Ana Botin.
The strategy used by Dalio’s fund, which manages nearly 150,000 million dollars in assets, coincides with that developed in 2020 (it also attacked other selective heavyweights such as Telephone Y Amadeus) and in 2018. 2020 ended with more than 5 operations registered by the CNMV on the same dates in these components and in 2018 they passed ten with similar percentages at the same times of the year.
6,700 million against European listed companies
Short placements on Dalio’s European shares in June reached 6,700 million euros in 21 listed companies on the Old Continent, according to market calculations.
The short position compiler data Breakout Point show that the largest positions opened recently are in the Dutch provider of technological solutions for the semiconductor sector ASML Holding, 1,000 million dollars; in the French energy Total Energiesfor 705 million, and in the pharmaceutical Sanofi, for 646 million dollars. It also operates against the actions of entities such as BNP Paribas, Intesa Sanpaolo either Allianz.
The current operation of those of Dalio is based, as published on their corporate website, in the invasion of Russia a Ukraine which created “a supply shock, on top of already excessive demand, increasing the risk of stagflation.” The fund team says it hasn’t seen “such conditions since the 1970s (when the vehicle was founded), with many portfolios today unprepared for sustained high inflation and especially vulnerable to stagflation.” Furthermore, they add, “the geopolitical implications of the war push us further toward deglobalization, which makes geographic diversification both more challenging and more valuable.”
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Wall Street guru Ray Dalio increases his attack against the Ibex 35 giants