When former U.S. Federal Reserve Chairman Ben Bernanke shocked the general public with news he could not refinance his mortgage, it seems he might not be alone. Numerous borrowers who appear to be strong loan underwriting risks are still unable to obtain mortgages, an investor letter from Elliott Management observed, and this in turn is causing the housing market to slow. Broader commercial real estate fundamentals, however, remain “constructive.”
Elliott Associates LP up 2.9% in 3Q
Elliott Associates LP experienced a strong third quarter, up 2.9 percent and positive by 7.6 percent as of September 30, according to an investor letter reviewed by ValueWalk. The fund reported that profitable sectors were distressed securities, performing debt, equity trading, securities arbitrage and...
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