What numpty would 'lend' shares with the view to having them used for shorting purposes and thus decimate the price of a share one holds?
The only people who lend shares are those who don't know shares are being lent: (i) PI's with shares in nominee accounts; (ii) Pension funds who lend shares in their pension pots to earn revenue for themselves; (iii) Institutions who lend shares to themselves or across subsidiaries and (iv) people who want to buy a company out cheaply.
Alexandra Frean Washington Last updated at 12:01AM, November 21 2014 One of the world’s most powerful hedge funds is understood to be behind a string of short-selling bets against a number of companies in Europe, including Quindell, the embattled insurance outsourcing company. Tiger Global, the New York fund, has apparently been using anonymous Cayman Islands-based shell companies to mount short-selling attacks on Quindell and other companies.
Coatue and Tiger Management have also been involved in the short selling of Quindell.
Coatue was founded by an ex employee of Tiger Management, as was Tiger Global.
With the revelations about Tiger Global will this be the final piece of information that makes the FCA finally take action?
The revelation that Tiger Global are behind the shorting of Quindell could be the key that unlocks information regarding the paymasters of the publishers of numerous spurious articles undermining Quindell.
In the next few days the tenuous links between Fidelity, Tiger Global, Robles, Gotham and Coautes will after further investigation become far less tenuous and could establish that UK financial rules have been breached.
Agree whole heartedly these shorters are damaging global trade and the global economy. They are destroying the esscence of global markets, and in a lot of cases the esscence of basically good companies. The sooner they all get run out of town the better, this is a sinister trend everyone apart from these scumbags can do without.
Alphapig: "Gotta say, had i'd known that it was tiger global that had shorted tcg down to 9p, blinkx down to 30p, hmv down to administration, i would have sold qpp the minute they started on qpp. They have the funds to destroy any aim company."
Hard to disagree with that, Alphapig. Keeping in the shadows now is probably proof that they fear becoming victims of their own success. These outfits can flip addresses, nationalites, company names and Board officers at will. I've read lots on this board with interest about banning shorting. Which, personally, I'd consider a great move. Lots of people have objected (probably 'cos they're good at it) on the grounds that it clears out the "dead wood". To that one I'd just say "Bullsh*t". Who decides the differance between "struggling to establish yourself" and "dead wood"? If stopping shorting were to ever be considered then I'd say a good start might be that financial institutions that held shares in proxy (and that's nowadays most of the large banking brokerages) should have to obtain the permission from the shareholders on an individual shorting request basis for the right loan out their stock to a shorter, not just a written blanket-clause in the original client-broker contract. It would not make shorting illegal, merely so time-consuming that most brokerages would simply think, "Nah, 's not worth the thrash". it may not eliminate shorting but the shorters would be at least a damned sight more inconvenienced.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.