Her en ganske interessant artikel fra WallStreetJournal. (helt præcist er det nok en opinion/blog/kommentar)
Den beskriver med udgangspunkt i GM aktien den fundamentale ændring af markederne som hedge fundene og deres computerne har medført.... Kogt ned lyder det sådan her:
Market analysts seem baffled, but trading in GM reflects the sea change that's taken place in the markets during the last decade. Simply put, the market has slowly given itself to short-term traders. The traders control volume, and whoever controls the volume controls the price.
http://online.wsj.com/article/SB124465076778202561.html
Et lille klip....(interessant med finanskrisen og cds'ere i baghovedet)
A 2007 study by the consulting firm Greenwich Associates found that the credit derivatives market -- the vast network of agreements and contracts that bet on debt -- now drives the pricing of the corporate bonds that underlie those derivatives, a development akin to the rabbit chasing the hound.
Money managers have complained this trend is making corporate bond prices more volatile. The study concludes: "In many ways, hedge funds have become the market."
Den beskriver med udgangspunkt i GM aktien den fundamentale ændring af markederne som hedge fundene og deres computerne har medført.... Kogt ned lyder det sådan her:
Market analysts seem baffled, but trading in GM reflects the sea change that's taken place in the markets during the last decade. Simply put, the market has slowly given itself to short-term traders. The traders control volume, and whoever controls the volume controls the price.
http://online.wsj.com/article/SB124465076778202561.html
Et lille klip....(interessant med finanskrisen og cds'ere i baghovedet)
A 2007 study by the consulting firm Greenwich Associates found that the credit derivatives market -- the vast network of agreements and contracts that bet on debt -- now drives the pricing of the corporate bonds that underlie those derivatives, a development akin to the rabbit chasing the hound.
Money managers have complained this trend is making corporate bond prices more volatile. The study concludes: "In many ways, hedge funds have become the market."
