Money managers under the microscope
Marshall not so gaga for Osborne
Lord Myners played a cheeky game of bull and bear with Paul Marshall, the co-founder of hedge fund company Marshall Wace, at the close of his Q&A session at the Fund Forum in Monaco this morning.
After a playful grilling by Lord Myners, which ran the gamut from the problems of gating amongst hedge funds to Marshall Wace’s interest in being a Red Knight for Manchester United football club, Lord Myners fired various concepts at Marshall in a quickfire round, inviting him to choose whether he was a bull or a bear.
Although Marshall was bullish on the dollar and long-dated bonds, practically everything else made him feel bearish, from the euro zone to Spanish banks to Lady Gaga, Goldman Sachs, Paris Hilton and BP’s hapless CEO Tony Hayward.
When Lord Myners pointed this out, Marshall declared he was bullish on life after death, but could not quite give himself over to being a bull for UK Chancellor of the Exchequor George Osborne, and passed. The somewhat longer in the tooth Vince Cable was given his fulsome support however.
Worth noting Marshall has donated money to the Liberals in the past.