Passport Capital aimed to cut risk
Passport Capital told investors it wanted to cut some risk from the hedge fund.
Therefore, the hedge fund sold off all of its Fannie Mae, Freddie Mac and Ginnie Mae holdings in the second quarter.
According to a letter to investors, obtained by Bloomberg, the decision turned a profit for the firm.
An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]
