Markets
Hedge fund guru Izzy Englander takes $100m short bet against Smurfit Kappa
Millennium Management has taken a total short position on 1.1 per cent of the packaging company’s shares
Israel ‘Izzy’ Englander, the owner of Millennium Management, has built up a €100 million short bet against Smurfit Kappa.
Filings with the Central Bank show that the New York-based hedge fund has taken out a total short position on 1.1 per cent of the packaging company’s shares, worth more than €100 million at the company’s current share price.
A short trade is a risky transaction in which traders borrow shares from a broker and sell ...