Monday, April 16, 2007

What Investment Bank Professionals Do for Fun at Work

by Ken Houghton

Conversation a few days ago:

"You know what someone should do? Launch a takeover bid for Barclay's."

"Aren't they bidding to take over ABN Amro?"

"Exactly. So most of the hedge funds are short Barclay's."

"And long ABN."

"So they would get squeezed on both sides."

As it turns out, that might have been the right strategy. Wonder how much exposure Jim Hamilton's pension fund has??

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