Wednesday, 6 August 2008

"Posh & Becks" Of The Hedge Fund Industry. Que?

The press loves to sensationalise the fortunes of financial markets traders. If you went on news stories alone you would be forgiven for imagining that anyone who has ever taken a position in any kind of stock, bond, currency or commodity is either

A) an extraordinarily talented ("lucky" if you read between the lines) whizz-kid who makes gazillions of pounds (or dollars, or euros, or whatever) on every deal they make. OR,

B) a hopeless, brainless, renegade loser who will bring ancient (well, decades-old) institutions to their knees by losing gigagazillions on one cascading scheme to corner the peanut derivatives market.

Whether or not the press is right about this is a matter of debate. The real problem for the journos though, is that, on the whole, the real people behind such stories are completely anonymous, faceless nobodies, so the only thing that they CAN sensationalise are the numbers. Until now, apparently.

Now, I don't begrudge Crispin Odey (46), head of Odey Asset Management (inspired name, mate), one penny of the 28 million he paid himself. I hope he has a whale of a time and buys his other half, Nichola Pease (44) of JO Hambro Capital something that she can't afford herself. Papua New Guinea, perhaps. However, I think the mainstream press is really clutching at celebrity headline straws by labelling them the "Posh & Becks" of the City...

"Posh"

"Becks"



Oh, wait, I forgot C) above...


C) overtrading, overpaid, useless eshizatoollovingauslanders.

7 comments:

Anonymous said...

Overpaid? Think you'll find it is not possible to be overpaid.. having LOADS is merely a prelude to having PROPER LOADS which in turn leads onto having, well, EVERYFINK.Shaag. I'll have one in every colour kinda thing.

Now, anyone want some dry roasted/salted peanut swaptions I have found myself a bit long of?

Somnambulist said...

Not for me thanks mate, I'm still trying to unload these CDOs (Cashew Debt Obligations).

Daddy Papersurfer said...

I wouldn't sleep with him for any amount of money!!! ........ well, a cash offer of £100 might do it ..... but no kissing!!!!!

Daddy Papersurfer said...

....... did someone say cashews? ..... yes, please .......

Somnambulist said...

Curse you, DP! That mental image will probably stay with me the whole day now...

(cashews in the post.. they'll just be in tiny bits and I'll have no idea who the original owner was or who has the property deeds so good luck if you ever want to actually foreclose on them ;-)

Anonymous said...

But they look just like Posh and Becks!

Don't they?

Oh well. I thought they did... Anyway. Where are those cashews? A few smoked almonds wouldn't come amiss, either.

Somnambulist said...

That's it.. everyone around here is nuts! Forget Proejct Dennis, I am opening Somnambulist's Nutty Emporium "For All Your Nutty Comestibles!" ;-)