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Reuters blog archive

from Unstructured Finance:

What the? Money managers and the fog of bitcoin

"I still don't even know what it is" - Jim Chanos, famed short-seller and founder of $6 billion Kynikos Associates.

"You know,  I don't understand bitcoin" - Bonnie Baha, head of Global Developed Credit at $53 billion DoubleLine Capital.

"I don't really know enough to have a view" - Chris Delong, chief investment officer of $8.1 billion multi-strategy hedge fund Taconic Capital Advisors

"I don't have any insight at all. I don't know how it should be valued. I have no anchor as to what it's worth"-  Steven Einhorn, Vice-Chairman of Omega Advisors

from Unstructured Finance:

While you were sleeping (the China ISM number came out)

By Katya Wachtel

For Omega Advisors' Steve Einhorn, the window of sleep-able hours is narrowing.

"One needs to know whats going on around the world. I turn in around midnight so I can monitor what's going on in China and Japan," Einhorn, vice chairman at Leon Cooperman's $7billion fund, said at the Reuters Global Investment Summit last week.  "A decade ago, did I and most others focus on what's going on in China? No. Now we wait for the November manufacturing index for China to come out. The day is longer because of that. I am up around 6 in the morning; I review what has gone on overnight in Asia and in Europe. I spend an hour in front of the machine at home, going through data and news releases" before he's out the door.

This was undoubtedly the most common refrain when we asked some of Wall Street's savviest money managers and investors how they begin their day, and with what must-read literature, during the week-long summit.

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