Funds Hub
Money managers under the microscope
The morgue after Christmas
He said at the Reuters Restructuring Summit in London that by the end of the year banks will issue “in patient”, “out patient” or “morgue” judgements as they go about the business to decide who gets much needed loans and who does not.
Isabella of Castile – the hedge fund manager
Isabella of Castile was a controversial woman. A woman who made history for herself and her country. She has been called saint and a tyrant, but never before a hedge fund manager.
Fred Fruitman, managing director of Loeb Partners Corp., the family office that oversees the Loeb family fortune, took care to bridge that gap.
He told delegates of the Asset Allocation Summit Europe 2009 this week that Isabella, a Renaissance woman, could have taught XXI century hedge funds a thing or two. An eye for opportunity, drive for returns, and a controversial reputation were also a trade-mark for both Isabella and hedge fund managers.
Take Isabella; a woman of self-belief and vision. Or, a fanatic who did not rest until she chased all the Moors out of Spain, took their riches and created the framework for the Spanish Inquisition.
That’s Isabella, depending who you are talking to.
Despite being described by some as parasites, hedge funds have been also credited for exploiting the inefficiencies of the financial system and — in so doing helping it tick along.
Unlike Isabella they did not discover continents or invade countries, but some say some countries have been left wobbly after hedge funds had finished with their currencies.
A tough time for all of us then. If companies stop paying suppliers it will almost inevitably be all the small companies that are pushing into insolvency. I can see a much needed focus on credit control this Christmas for smaller companies!