Bloomberg – Hedge fund Alden Global Capital is profiting from the turmoil sweeping across Russia’s financial markets.
The $1.8 billion New York-based firm run by Randy Smith has been betting against the ruble for the past month and a half, according to two people familiar with the trade. The currency lost as much as 19 percent today after a surprise interest-rate increase failed to stem its plunge. The ruble has declined 37 percent against the U.S. dollar since Oct. 31, according to data compiled by Bloomberg.
