4 ms·

The same BlackRock that's just made a killing short selling shares in the failed UK public sector contractor Carillion?

addicted 9y ago
Maybe the UK govt would have done well to look at Blackrock's bet against Carillion and ask them what they saw that they didn't.
- Applejacker 9y ago
  Some of BlackRock's other disclosed short positions. BCOCK INTL GROUP PLC, BALFOUR BEATTY PLC, BRITVIC PLC, CARILLION PLC, CONVATEC GROUP PLC, COUNTRYWIDE PLC, CREST NICHOLSON HLDGS PLC, CYBG PLC, DAILY MAIL & GENERAL, Dairy Crest Group, DEBENHAMS PLC, EMPIRIC STUDENT PROPERTY PLC, FLYBE GROUP PLC, GREENE KING PLC, Greggs Plc, HALFORDS GROUP PLC, J.D. WETHERSPOON PLC, KCOM GROUP PLC, KINGFISHER PLC, MARKS & SPENCER GROUP PLC, METRO BANK PLC , N. Brown Group, PATISSERIE HOLDINGS PLC, PETRA DIAMONDS, PETROFAC LTD, RESTAURANT GROUP PLC, RPC Group plc, SAINSBURY (J) PLC, SIG PLC, TalkTalk Telecom Group PLC, TED BAKER, WM MORRISON SUPERMARKETS Is your argument the govt. should be doing more to support the UK retail pastry market? (I'm joking)
joefarish 9y ago
What is unethical about short selling?
- jamiethompson 9y ago
  There is a suggestion that HSBC and others may have been working with inside knowledge. Blackrock also hired the outgoing chancellor of the UK George Osborne who was responsible for awarding vast numbers of contract to Carillion.
  - mseebach 9y ago
    I read an article in FT this morning about how the Carillion problems were hinted in annual reports going back to 2011 (and also how shorting them was popular throughout 2016 and 2017). Hindsight is 20/20, but there's a real chance that Blackrock are just pretty good at what they do.
  - adwhit 9y ago
    Employing George Osborne for squillions straight from government is definitely unethical. How can he act in the best interest of the country when there is a colossal personal incentive to keep BlackRock et al on side during his tenure?
- dingaling 9y ago
  > What is unethical about short selling? Short-sold stocks are 'borrowed' from an investor who has less market information than the trader. The trader deliberately hides that information so as to leave the owner holding the bag when the price drops, whilst pocketing the difference as profit. Doesn't seem ethical to me. Legal, yes.
  - nopriorarrests 9y ago
    Well, consider TSLA, one of the most shorted stocks of last years. I don't think that Tesla short-sellers are deliberately hiding some information from investors. Jim Chanos, the most famous TSLA seller, is very open why, in his opinion, true tesla price is zero [0] and definitely not hiding anything. Some even argue that Jim is too vocal. [0] https://www.cnbc.com/2017/12/14/jim-chanos-we-think-tesla-is-worth-zero.html https://www.cnbc.com/2017/12/14/jim-chanos-we-think-tesla-is...
Applejacker 9y ago
BlackRock's short positions in the UK. I'm sure the employees feel that contribution https://shorttracker.co.uk/manager/blackrock-institutional-trust-company-national-ass/ https://shorttracker.co.uk/manager/blackrock-institutional-t... https://shorttracker.co.uk/manager/blackrock-investment-management-uk-limited/ https://shorttracker.co.uk/manager/blackrock-investment-mana... https://shorttracker.co.uk/manager/blackrock-advisors-llc/ https://shorttracker.co.uk/manager/blackrock-advisors-llc/ https://shorttracker.co.uk/manager/blackrock-advisors-uk-limited/ https://shorttracker.co.uk/manager/blackrock-advisors-uk-lim...

Maybe the UK govt would have done well to look at Blackrock's bet against Carillion and ask them what they saw that they didn't.

Applejacker 9y ago
Some of BlackRock's other disclosed short positions. BCOCK INTL GROUP PLC, BALFOUR BEATTY PLC, BRITVIC PLC, CARILLION PLC, CONVATEC GROUP PLC, COUNTRYWIDE PLC, CREST NICHOLSON HLDGS PLC, CYBG PLC, DAILY MAIL & GENERAL, Dairy Crest Group, DEBENHAMS PLC, EMPIRIC STUDENT PROPERTY PLC, FLYBE GROUP PLC, GREENE KING PLC, Greggs Plc, HALFORDS GROUP PLC, J.D. WETHERSPOON PLC, KCOM GROUP PLC, KINGFISHER PLC, MARKS & SPENCER GROUP PLC, METRO BANK PLC , N. Brown Group, PATISSERIE HOLDINGS PLC, PETRA DIAMONDS, PETROFAC LTD, RESTAURANT GROUP PLC, RPC Group plc, SAINSBURY (J) PLC, SIG PLC, TalkTalk Telecom Group PLC, TED BAKER, WM MORRISON SUPERMARKETS Is your argument the govt. should be doing more to support the UK retail pastry market? (I'm joking)

joefarish 9y ago

What is unethical about short selling?

jamiethompson 9y ago
There is a suggestion that HSBC and others may have been working with inside knowledge. Blackrock also hired the outgoing chancellor of the UK George Osborne who was responsible for awarding vast numbers of contract to Carillion.
- mseebach 9y ago
  I read an article in FT this morning about how the Carillion problems were hinted in annual reports going back to 2011 (and also how shorting them was popular throughout 2016 and 2017). Hindsight is 20/20, but there's a real chance that Blackrock are just pretty good at what they do.
- adwhit 9y ago
  Employing George Osborne for squillions straight from government is definitely unethical. How can he act in the best interest of the country when there is a colossal personal incentive to keep BlackRock et al on side during his tenure?
dingaling 9y ago
> What is unethical about short selling? Short-sold stocks are 'borrowed' from an investor who has less market information than the trader. The trader deliberately hides that information so as to leave the owner holding the bag when the price drops, whilst pocketing the difference as profit. Doesn't seem ethical to me. Legal, yes.
- nopriorarrests 9y ago
  Well, consider TSLA, one of the most shorted stocks of last years. I don't think that Tesla short-sellers are deliberately hiding some information from investors. Jim Chanos, the most famous TSLA seller, is very open why, in his opinion, true tesla price is zero [0] and definitely not hiding anything. Some even argue that Jim is too vocal. [0] https://www.cnbc.com/2017/12/14/jim-chanos-we-think-tesla-is-worth-zero.html https://www.cnbc.com/2017/12/14/jim-chanos-we-think-tesla-is...

Applejacker 9y ago

BlackRock's short positions in the UK. I'm sure the employees feel that contribution https://shorttracker.co.uk/manager/blackrock-institutional-trust-company-national-ass/ https://shorttracker.co.uk/manager/blackrock-institutional-t... https://shorttracker.co.uk/manager/blackrock-investment-management-uk-limited/ https://shorttracker.co.uk/manager/blackrock-investment-mana... https://shorttracker.co.uk/manager/blackrock-advisors-llc/ https://shorttracker.co.uk/manager/blackrock-advisors-llc/ https://shorttracker.co.uk/manager/blackrock-advisors-uk-limited/ https://shorttracker.co.uk/manager/blackrock-advisors-uk-lim...