The majority of the independent managers used to advantage the lack of trend of the markets to launch long/shorts. These deep ones rent actions that find that they go to fall, vendem the papers in at sight market and buy the ones that they find that they go to go up. Others buy a wallet of papers that find that they go to go up and they vendem the future Index of the So Paulo stock exchange. This strategy has given one excellent result for some managers, as for the Polar region Asset Management. Deep Polar region HG accumulates 19.16% in the year. Already another one long/shorts, Questus 30, did not have the same luck and accumulates 5.38% of loss in the semester. ' ' I lost with an appositive one in siderurgy, believed that it went to recoup the losses of February and alone I undid the position in maio' ' , Luiz says Carlos Barroso Simo, responsible for the deep one. The strategy of Questus 30 is to mount a portfolio and to vender future Ibovespa.

The problem is when the chosen action does not go well. In March, the wallet lost 3.8%. ' ' But this is typical of these deep ones, it can recoup everything in one ms' ' , Simo says, remembering that the deep one was created in 2002 and accumulates a return of 158% of the CDI until today. This is one of the risks of these deep ones of arbitration: in general, the wallets are alavancadas e, if the appositive ones to errarem, can have losses. Moreover, it has many different strategies – action with action, sector with sector, ONs action with PNs of same company and action with future index. Therefore the investor must be intent to see the risk that is running. Rafaela, of the BankBoston, believes, however, that long/shorts is not a fashion and must become part of the strategy of wallets.

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