Pulling on shorts
By Emiliya Mychasuk and Emiko Terazono
Published: October 8 2008 03:00 Last updated: October 8 2008 03:00
US hedge fund manager John Paulson's crew in London, led by Harry St John Cooper and Nikolai Petchenikov, still have their shorts on banks.
Ignoring John Varley's protestations about Barclays' strength, taking first place in the UK portfolio of bank short positions is Paulson & Co's 1.18 per cent short on Barclays, as well as 0.87p per cent of RBS, alongside HBOS and Lloyds TSB.
Lansdowne Partners, the London fund founded by Paul Ruddock which bet against Northern Rock, also has a bet against Barclays, with a smallish 0.5 per cent short position. Government moves to short-up its big banks could leave them all feeling cold.
09/10/2008
John Paulson still short the UK banks. Especially Barclays and RBS. I wonder if he shorted other European banks.
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