The portfolio manager may end up hating or loving the guy or girl and suddenly long and short decisions are based on notions of support or destruction of the CEO.

FORBES: Put Emotions Aside And Buy Apple, Here's Why

But the recent round of devaluations and the peg's resilience has suddenly turned long-term problems into short-term ones.

CNN: The Cost of a Pegged Dollar

Investors had become convinced that long- and short-term rates would continue to fall, and were suddenly proved wrong.

ECONOMIST: Buttonwood