Balyasny Hit Hard By Swiss Franc, But Bailed Out Through Diversification

With the significant hedge fund short exposure to the Swiss currency before the historic currency price rise that took place recently, it was ultimately just a matter of time before the hedge fund losers on the Swiss trade started to appear, and Everest is not alone in that regard.

Put Balyasny Asset Management (BAM) on the list. The multi-strategy investment shop had short Swiss exposure and is adjusting their portfolio risk management as a result, according to an investor conference call that took place earlier this morning, a transcript of which was provided to ValueWalk.

Broader Atlas funds are down near 2 percent...