Blackrock buildingWithout the likes of BlackRock Inc and State Street Corp, the California Public Employees’ Retirement System and the Kuwait Investment Authority filling such an elemental role, investors such as Gabe Plotkin, whose Melvin Capital Management became a piñata for day traders in the GameStop Corp saga, wouldn’t have shares to sell short.
IT IS in the air again, on Reddit, in Congress, in the C-suite: Hedge funds that get rich off short-selling are the enemy. The odd thing is, the biggest players in the game are getting a pass.
Those would be the asset managers, pension plans and sovereign wealth funds that provide the vast majority of securities used to take bearish positions.
Biggest players in the short-selling game are getting a pass moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
A 3d printed Robinhood and Reddit logos are seen near one dollar banknotes in front of displayed GameStop logo - Reuters file pic
NEW YORK: It’s in the air again, on Reddit, in Congress, in the C-suite: Hedge funds that get rich off short-selling are the enemy. The odd thing is, the biggest players in the game are getting a pass.
Those would be the asset managers, pension plans and sovereign wealth funds that provide the vast majority of securities used to take bearish positions.
Without the likes of BlackRock Inc. and State Street Corp., the California Public Employees’ Retirement System and the Kuwait Investment Authority filling such an elemental role, investors such as Gabe Plotkin, whose Melvin Capital Management became a piñata for day traders in the GameStop Corp. saga, wouldn’t have shares to sell short.
Biggest Players in the Short-Selling Game Are Getting a Pass
Bloomberg 3/6/2021 Brandon Kochkodin and Erik Schatzker
(Bloomberg) It’s in the air again, on Reddit, in Congress, in the C-suite: Hedge funds that get rich off short-selling are the enemy. The odd thing is, the biggest players in the game are getting a pass.
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Those would be the asset managers, pension plans and sovereign wealth funds that provide the vast majority of securities used to take bearish positions. Without the likes of BlackRock Inc. and State Street Corp., the California Public Employees’ Retirement System and the Kuwait Investment Authority filling such an elemental role, investors such as Gabe Plotkin, whose Melvin Capital Management became a piñata for day traders in the GameStop Corp. saga, wouldn’t have shares to sell short.
Securities finance roundtable: Time for the tin hats?
Matthew Chessum (investment director, securities lending, collateral management and money markets, Aberdeen Standard Investments)
Andrew Dyson (CEO, International Securities Lending Association)
Ben Meaden (head of trading, securities finance, Aviva Investors)
Donia Rouigueb (head of sales, securities finance and repo, Caceis)
Funds Europe – Which major events and developments have had the most impact on securities lending and financing markets over the past 12 months? How has this caused you to refine your strategy, if at all?
Matthew Chessum, Aberdeen Standard – It will come as little surprise that the Covid-19 pandemic has had a major impact on securities lending revenue. Typically, volatility is good for securities lending, but the volatility we have witnessed during 2020 has not helped us, when considered alongside the high levels of economic uncertainty that have prevailed throughout the year.