Gosling's Grouse: What will be the next 'big short'?

Fears over Chinese currency

A US-based hedge fund manager is currently trying to raise money for what he believes is the next 'big short'. Not a film, but an investment idea - in this case a 30% devaluation of the Chinese renminbi.

Of course, his 'big short' is not really much of one because, if you have seen the film or read the book, you will remember the guys who spotted the collapse of the US housing market did so four or five years before it happened. Most importantly, they were talking about it when no-one else was. In fact, the consensus was that you could never bet against the UK housing market. And when they were looking for ways to 'play' their thesis of a residential housing crash, the instruments were not really in place until a few investment banks got greedy and provided the necessary CDS. Betti...