Corriente’s Hart Bets Against China’s Yuan on Inflation

Corriente Advisors LLC’s Mark Hart, whose firm handed investors a six-fold gain betting against U.S. subprime mortgages, says he is wagering on a decline in the Chinese yuan.

Hart is shorting the currency by buying put options on the yuan, he told the audience yesterday at the 16th Annual Ira Sohn Investment Conference in New York. Hart, chairman of Fort Worth, Texas-based Corriente Advisors, said China’s growth has been fueled by a credit bubble, and that rising inflation will bring the boom to an end.