Church England Investments – Short Selling Attacked
Source: http://feeds.feedburner.com/~r/richard-wilson-blog/~3/405564094/church-england-investments-short.htmlPosted on Sunday, September 28th, 2008 | In Hedge Funds
Church Attacks Short Selling
Church of England Supports Attacks Short Selling
Here is an interesting article about the Church of England, their support in banning short selling tactics while also profiting from lending stock from their investment pool to short sellers.
Hedge fund managers reacted with fury yesterday to an attack on short selling and debt trading by leaders of the Church of England yesterday, pointing to the contradiction between what they say and how they invest their vast assets.
Rowan Williams, the archbishop of Canterbury and head of the Anglican church, said it was right to ban short selling, while John Sentamu, archbishop of York, called traders who cashed in on falling prices “bank robbers and asset strippers”.
Hedge funds and religious critics pointed to the willingness of the Church commissioners to lend stock from their £5.5bn ($10.1bn) of investments – a key support for short selling – and derided the pair for not understanding the role of shorting.
“They are trying to shoot the messenger and they are massively deflecting attention away from the dramatic incompetence of bank executives,” said Hugh Hendry, co-founder of Eclectica Asset Management, a London hedge fund. “Short selling is the pursuit of truth.” Read more…
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Tags: Church of England Against Short Selling, Short Selling and Church of England, Church of England Hedge Funds, Church of England Investments, Investments by Church of England
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Anglican Church, bank executives, bank robbers, Canterbury, Church England Investments, Church of England Against Short Selling, Church of England Attack, Church of England Hedge Funds, Church of England Investments, Church of England Supports Attacks Short Selling, Eclectica Asset Management, England Hedge Funds, Gbp, Hedge Funds, Hugh Hendry, John Sentamu, London, United Kingdom, USD, York
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Richard Wilson is a hedge fund consultant and head of the Hedge Fund Group (HFG). Richard writes articles on the hedge fund industry on a daily basis. Most of these articles are straight forward educational pieces on hedge fund strategies, terms & definition, trends, book reviews and interviews. Richard has written two books, The Hedge Fund Blog Book and Rainmaker. The Hedge Fund Blog Book is a collection of my blog posts downloadble for free at HedgeFundsBook.com. Rainmaker is a negotiation and sales book for investment professionals available in electronic, paperback and hardback form at Rainmaker.ws. Richard's articles have been picked up and used by Reuters, Fox Business News, HedgeCo, Hedge Fund Daily, Nielsons, Wealth Management Exchange, Investopedia.com and a couple dozen niche financial and investment focused blogs and email newsletters, most recently StraightStocks.com Richard loves networking and truly believes that if you freely give away your knowledge and lessons you have learned in business others will come to your aide when you need a favor or would like to form a business partnership. Email Richard at Richard@RichardCWilson.com |
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