Reuters- Thames River fund manager Ken Kinsey-Quick has moved long some battered subprime assets after shorting the sector last year, because he thinks they are cheap, and also hopes to make money out of a fall in commodity prices.
Kinsey-Quick, who runs around $2.3 billion (1.2 billion pounds) in fund of hedge funds and who made money last year by having up to half of his assets in funds that were short subprime as the U.S. mortgage crisis unfolded, said he had invested at the start of this month in a fund specially set up by one fund manager.
Shorting means betting on a lower price for a security in the future.
