The short seller also says the real estate and private equity industries look 'vulnerable' in the current environment.
A fund manager is holding on to his short position in Credit Suisse despite a multibillion-dollar lifeline offered by the Swiss central bank in an effort to calm investors. Barry Norris, fund manager at Argonaut Capital, said Friday morning that he expects Credit Suisse 's stock price to continue to fall despite the Swiss National Bank saying it met the capital and liquidity requirements imposed on "systemically important banks.
N-CH 5Y mountain Argonaut's Norris noted that Credit Suisse was unique among European lenders for losing 38% of its customer deposits in the last quarter of 2022. "There's no other bank that has had the deposit outflows [like] at Credit Suisse. I think what the market is concerned about is how those deposit outflows will have accelerated in recent weeks," he added. Credit Suisse has had tumultuous few years, battling various scandals and controversies .
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