‘Shorting’ hedge funds come out of the HBOS shadows
Tuesday, June 24, 2008 : PermalinkScotsman- Mysterious global hedge funds which hope to profit from betting that the price of HBOS shares will continue to plummet emerged from the shadows yesterday.
On the first day of new rules to bring greater transparency to "short selling", three previously secretive funds were forced to declare their stake in the Edinburgh-based bank.
Under the new regulations, US-based investment firm Harbert Management Corporation (HBC) revealed it had shorted 3.3 per cent of HBOS shares – around £340 million – through its Harbinger hedge fund.
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citigroup, ivey, market-abuse, mistrust, multibillion-dollar, omnium