More Crap Washes out of London .

[2Pack]

business.timesonline.co.uk/tol/b … 256253.ece

Crisis grips European hedge funds

A RAFT of European hedge funds have been forced to introduce emergency measures to protect their businesses from collapsing in the wake of the turmoil in financial markets.
**
Up to 10 European hedge funds have suspended redemptions after investors clamoured for their cash when the managers made severe losses.
**
A London prime broker told The Sunday Times that even before last week’s extreme gyrations, nearly two-thirds of London-based hedge funds had lost between 4% and 10% of their value. A “significant number” had lost much more, he said.

The manager of one of Britain’s biggest hedge funds said: “It’s been an extraordinary week. Even in the crash of 1987 I don’t remember so much carnage.”

Experts warned that the problems among hedge funds were likely to cause more disruption in the markets, especially if many are forced to liquidate positions.

Funds with heavy losses reportedly include **Corin, Phylon, Addax FX1, Henderson Global Currency, Odey Treasury, Sector ERV, Kinetic Special Situations, Systeia Alternative Risk Trading and Polar Technology, **according to Eurohedge, which monitors the industry.

Once they are named one is always tempted to see what toilet paper they have washing around in the ISE . One is usually on the right track.

Sure Enough Henderson , Odey , Kinetic and Systeia all showed up on a quick search

[CelloPoint]

I was at an interview at a large London-based US bank there on Thursday (yes, the day of the SG story!). I haven’t got my hopes up… I had to walk through the floor on the way to the interview room and I can tell you there were people standing on desks, shouting down the phones and cursing their screens. Is this normal?!

[mr_anderson]

@CelloPoint

I was at an interview at a large London-based US bank there on Thursday (yes, the day of the SG story!). I haven’t got my hopes up… I had to walk through the floor on the way to the interview room and I can tell you there were people standing on desks, shouting down the phones and cursing their screens. **Is this normal?! **

Having worked in that enviornment, yes.

[CelloPoint]

@mr_anderson

@CelloPoint

I was at an interview at a large London-based US bank there on Thursday (yes, the day of the SG story!). I haven’t got my hopes up… I had to walk through the floor on the way to the interview room and I can tell you there were people standing on desks, shouting down the phones and cursing their screens. **Is this normal?! **

Having worked in that enviornment, yes.

OK, right. I was in ABNM-AMRO (the Dutch bank) before where a mate of mine works and it seemed a lot calmer!

[verbatim]

@CelloPoint

people standing on desks, shouting down the phones and cursing their screens. Is this normal?!

Must have been one of the banks that didn’t have inside information.

[2Pack]

@CelloPoint

I can tell you there were people standing on desks, shouting down the phones and cursing their screens. Is this normal?!

Only on a trading floor during a period of volatility …up or down is pretty much the same .

The last big lot was the hurricane / black monday weekend in 1987 . On friday a ‘hurricane’ kept over half the staff at home . On monday it was black monday .

I was in the IT department myself and had a very quiet Friday and a very quiet Black Monday save the odd bleat on the phone as to whether there were any systems faults with the Reuters feed.

Nahh mate , s’alright innit .

Nobody wanted any maintenance done . All systems were nominal. Fuck it , nothing to do.

Traders shouted and roared, I went to the pub for a swill. The yanks caused most of the grief after I was back in the booozer again at 6pm .

Nobody spoke to anybody about ANYTHING on Tuesday . I had a hangover. Suited me.

On Wednesday I felt that tumultousness was karmically disposed to wash over me …in essence. That was a revelation of sorts to me , I went clubbing that night . Shite club down in Deptford.

Felt grungy on thursday. I do remember that