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Hedge funds profit from ‘Trump trades’ around US election

Element Capital and Graham Capital among macro managers that did well out of recent market swings
The dollar’s strength this year compared to other big currencies has again emerged as a big driver for returns

Hedge funds including Jeffrey Talpins’ Element Capital and Kenneth Tropin’s Graham Capital Management have made big gains from betting on market swings around last month’s US presidential election.

Element and Graham are among so-called global macro hedge funds — which trade macroeconomic trends in currencies, commodities, bonds and stocks — that have been positioned in “Trump trades”, or assets that did well out of Donald Trump’s election victory.

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