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qui, eux, sont à découvert

English translation: whose portfolios are exposed/short

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:qui, eux, sont à découvert
English translation:whose portfolios are exposed/short
Entered by: Paul Stevens
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07:56 Feb 22, 2005
French to English translations [PRO]
Bus/Financial - Finance (general)
French term or phrase: qui, eux, sont à découvert
I can't quite see how the last five words in following fit in with the rest of the sentence. Any thoughts?

"Ainsi, comme un pied de nez aux relations bien établies, les indices de gérants long short, ayant typiquement une exposition nette à l’achat au marché, perdirent autant d’argent que les short-sellers, qui, eux, sont à découvert."

Many thanks.
Paul Stevens
Local time: 19:13
whose portfolios are exposed/short
Explanation:
short sellers who are short position - caught with their shorts down!

BE BRAVE - use the word short twice in the sentence!!!

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Note added at 3 hrs 37 mins (2005-02-22 11:34:08 GMT)
--------------------------------------------------

in a short position
Selected response from:

Connor
Local time: 20:13
Grading comment
Not being an expert in this field, I have taken on board other member's comments, and give the points to Connor's answer. I did like Terry's as well, though.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1whose portfolios are exposed/shortConnor
4who are caught in a squeezeTerry Moran
3themselves overdrawnxxxCMJ_Trans
3 -2'...who are, themselves, overdrawn."
French2English


  

Answers


12 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
themselves overdrawn


Explanation:
this is the idea

à découvert = in the red

xxxCMJ_Trans
Local time: 20:13
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 201

Peer comments on this answer (and responses from the answerer)
agree  Jocelyne S: yes, "who are themselves overdrawn"
19 mins

agree  tatyana000
1 hr

disagree  Terry Moran: Usually, yes, but not here.
1 hr

disagree  xxxdf49f: sorry no... see Connor's answer
7 hrs
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -2
'...who are, themselves, overdrawn."


Explanation:
...I agree with the answers already given, but I think you should keep the punctuation as it appears in the original French, as it is there for a reason. Also, it makes it flow better in English. People are too against punctuation these days!

French2English
United Kingdom
Local time: 19:13
Works in field
Native speaker of: English

Peer comments on this answer (and responses from the answerer)
disagree  Terry Moran: Not here. I agree about the punctuation, though.
18 mins

disagree  xxxdf49f: sorry no... see Connor's answer
6 hrs
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
qui, eux, sont à découvert
who are caught in a squeeze


Explanation:
This has nothing to do with being overdrawn at the bank. What bank? It's about stock-market investment, or rather speculation. Short sellers sell shares they don't own in the hope that the price will fall, allowing them to buy them back cheaper and thus make a profit. I think à découvert here means simply "exposed", or by extension "in trouble". My suggestion of "caught in a squeeze" is a standard expression, meaning that the market goes in the opposite direction from what the speculator hoped. Here I'm guessing that the price actually rose, forcing the short sellers to buy the shares back at a higher price and thus realise a loss. This is called a "bull" squeeze, the opposite problem - a "bear" squeeze. I'm not suggesting bear squeeze because there's not enough context to make it clear that this is what's happening. I don't understand, for example, how investors who are long of a share can "lose as much money" as the short sellers.

With more context I could be more confident.

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Note added at 2 hrs 16 mins (2005-02-22 10:13:06 GMT)
--------------------------------------------------

As you\'ll have noticed, I reversed the definitions of bull and bear squeezes. A bear sells short hoping that the market will go down, and if it goes up he\'s logically in a bear squeeze. Sorry about that. I think the rest of my answer is OK, though.

Terry Moran
France
Local time: 20:13
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 27

Peer comments on this answer (and responses from the answerer)
agree  Dylan Edwards: ...who are themselves exposed / in an exposed/insecure position... I don't have detailed knowledge of bull and bear squeezes!
1 hr

disagree  xxxdf49f: sorry no... see Connor's answer
6 hrs
  -> Don't think so: see my comment on Connor's answer.
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
qui, eux, sont à découvert
whose portfolios are exposed/short


Explanation:
short sellers who are short position - caught with their shorts down!

BE BRAVE - use the word short twice in the sentence!!!

--------------------------------------------------
Note added at 3 hrs 37 mins (2005-02-22 11:34:08 GMT)
--------------------------------------------------

in a short position

Connor
Local time: 20:13
Native speaker of: Native in EnglishEnglish
PRO pts in category: 36
Grading comment
Not being an expert in this field, I have taken on board other member's comments, and give the points to Connor's answer. I did like Terry's as well, though.

Peer comments on this answer (and responses from the answerer)
agree  xxxdf49f: ben oui! jargon financier qui ne s'invente ni se s'improvise! // "who are short or in a short position" suffit
4 hrs

neutral  Terry Moran: Maybe I'm splitting hairs, but a short seller doesn't have a portfolio unless you think it's OK to talk of a portfolio of risks.
6 hrs
  -> Terry - you are splitting hairs - a portfolio means all the companies traded by a trader - generally traders specialise in a given sector such as pharmaceuticals. A trader can go long or short on a given stock.
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