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interestrateripoff

Hedgies Lose Hundreds Of Millions In Uk Banks

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http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8682585/Hedgies-lose-hundreds-of-millions-in-UK-banks.html

“There is a long way down, especially for banks,” said Mr Odey, who added the whole market was at risk of tumbling back to 2008 post Lehman Brothers-lows.

Lansdowne Partners and GLG were also big sellers of UK bank stocks, as hedge funds saw hundreds of millions wiped off their investments.

UK-based fund managers have invested heavily in LLoyds and Barclays and have suffered the consequences as both bank shares have tumbled since the start of the year.

Hedge funds that have fallen bellow 10pc came under pressure yesterday to start an intensified round of sell-offs - reducing their positions by hundreds of millions of pounds.

Insiders said bank stakes had been “halved” without remorse - but that market volumes had been too low to produce enough buyers to sell more.

I'm sure there will be lots of sympathy on here for the hedge funds.

Although luckily they still get their management fee irrespective of the their investment performance.

Hope these people aren't too leveraged....

Also as they are hedge funds why haven't they hedged their position?

Edited by interestrateripoff

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Driving the banks shares down is the best way to blackmail governments into more QE.

So very true :(

There should be no doubt in anyone's mind now as to who is actually running the show...

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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