Money managers under the microscope
from Reuters Investigates:
"They love a conspiracy theory on the boards," David Jones, chief market strategist at spread betting firm IG Index told UK correspondents Rosalba O'Brien and Matt Scuffham when they were reporting for "The stock, the web, the CEO and his lawyers" . It's a look at some of the shenanigans around highly speculative resource stocks when they are discussed on message boards like ADVFN and iii. Late-night gossip and personal insults are par for the course: some suspect organised short-sellers may be behind the talk. Given the high volumes of online trading in the UK, we wonder how long it will be before regulator FSA is forced to take a closer look.
Posted by: Chris Vellacott
Hedge fund stories from the past 24 hours from Reuters and elsewhere:
Hedge fund giant surfaces in trading probe – Wall Street Journal
Bear Stearns hedge fund execs face closing arguments – Crain’s NY Business
Friedberg reopens Global Macro Hedge Fund - Hedge Funds Review
Hedge Fund billionaire bankrolls Conservatives – The Times
Top trader launches hedge fund – The Telegraph
How, just over half a year after some market observers pronounced prop trading perpetually and eternally dead, did the prop desk at these banks bounce back to life in a fashion that would have turned Lazarus green with envy?