Argonaut Capital: No Solution For Euro Crisis

Argonaut Capital Management  is a hedge fund manager based in New York.  The firm manages has over $6 billion under management. Argonaut's flagship hedge fund, Argonaut Macro Fund, was down 2% in April and over 1% in May.

David Gerstenhaber, the CEO of the hedge fund, has become increasingly bearish on Europe.

While analyzing unemployment trends in the United States and monetary policy in Japan, the report's most pessimistic assertions regard Europe's ability to recover from its current economic malaise. According to Argonaut, there looks to be no realistic hope of a European solution in the near future.

Despite that, the hedge fund thinks there...