Tuesday, 17 March 2009


Interesting little article today (the Raven thinks it was in the FT), in short it was highly critical of how much whining coming from the Aviva CEO with regards to short selling. He had almost suggested that the 30% fall in his stock on results day was due to the evil HedgeFunds. Funny that the short interest the day before in the stock was 1% of the market cap, the day after it was ~2%, hardly the reason for a large cap stock to fall 30% now is it! He's also apparently been approaching other firms to suggest that they no longer lend out their stock. This is a very bearish sign to the Raven, if the guys running the firm are busy chasing their shadows then they don't have their eye on the ball. He's not done any work on the firm so has no real long term view though.

There has also been some chatter about the effect of suspending market to market FASB rules in the US, now that is frothy, there is no way that should be helping the market!

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