FINTAG COMMENT Wimbledon. One of the wonders of being an Administrator that calculates daily NAVs is they get to capture all of a fund's end of day positions. Historically a Prime Broker has had the same joy, although with multi PB's this isn't the case anymore. It is not a surprise we all use multiple brokers given the antics these investment bankers have been up to over the years (no wonder independents like NewEdge are so popular; no chance of front running there). Imagine if you ran an Administrator and kept all the positions of all your clients in a database? It would, I am sure, be very easy to run comparisons of the books of similar strategy hedge funds over time. I am guessing here, but I would suggest nearly all equity long short funds would be long everything and beta chasing the normal way of trading. You see, in a crowded market all the participants act like sheep. They have been to the same schools, read the same books and hire the same sort of quants. The problem with hedge funds are there aren't enough mavericks. You know, people who were fun but didn't end up going to prison. Remember when tennis was full of characters? [Editor: Like T? E?] They are all automatons now. When the masses think Nadal is interesting, you know the sport will soon be played by robots. Thankfully he is not playing this year, so us Brits have a Henman hope.. Potentially winning a sport we invented, GBP will surely appreciate more. Everyone likes a winner, even if they are Scottish (Goodwin, Brown and Braveheart come to mind). My tickets for the Wimbledon final have arrived. Should I sell now or wait til a few days before? Apparently I will be close to the newly engaged Will and Kate so I had better sell. Best not to be seen near Royalty.