In 2012 BlueMountain Capital Management speared a whale and scaled the Alps in pursuit of returns.
The $15.6 billion credit manager hit the headlines last year when it was revealed to be one of the hedge funds that profited from the ‘London Whale' trade.
The trade was executed by BlueMountain as part of its index arbitrage strategy, which aims to capture price differentials between credit default swap (CDS) indexes and their constituents.
Early in 2012 BlueMountain noticed the ninth series of Ma
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