EFTA00836898.pdf

From: Gianni Serazzi To: "jeffrey E." <[email protected]> Subject: Re: Date: Sun, 10 Jan 2016 17:34:20 +0000 Ciao Jeff, as mentioned I have doubled down on my short retail after your team confirmed. However I am not sure when to stop the trade so please let me know, and please let me know if I should focus more us or keep it global as I have it now. I will let you know when I see the order portfolio of suppliers of retai thatl starts growing again. Also the risk neutral strategy we discussed on companies that have increased leverage to do buybacks vs. ones that didn't is paying off a little. I am positive 6% with it in the last 8 months, another fund that followed it but probably implemented it better is up 9% with it. As discussed also the others are restarting to buy emerging, especially Russia. I am putting some long money there as well. If you think it's a mistake please let me know, I trust and value a lot your input. Thx G On Thu, Jan 7, 2016 at 9:53 AM, Gianni Serazzi <S , wrote: Great, thank you. Retail us I suppose? Please let me know when to close that position in the next months. Also after 18 months short emerging some deep pockets are restarting to invest there excluding China with longer term horizon. I will follow them Thx G On Jan 6, 2016 11:44 PM, "jeffrey E." <[email protected]> wrote: retail short a great trade please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00836898