Where are the bodies?

One of the first things you learn in this business is that there is way more there than is published on Bloomberg my information comes form one of the PMs from the fund

 

re: way more
is that what we generally call inside information in some circles?

 

You are very connected it seems. What do you do? Are you a PM yourself?

 

Inside information is not illegal, trading on it is, right?

 

You can benefit from insider information without really running foul of the law. If you were planning on investing in the company, and you learned from your contact of the dire strait - you turn away. No illegality here, but you benefitted.

 

re:No illegality here
you don"t know the law and court decisions
these type of cases are rarely prosecuted because they are difficult to prove.

 

Sometimes and only in certain markets.

 

Exactly - its nigh impossible to prove

 

Apparently, yes. Which reminds me that @destriero probably owes me a dinner (as Collins has gotten re-elected and is probably getting off scat-free).

 

Thanks for all the answers. Meanwhile I got hold of the latest HSBC HF report. A lot of the data is reported late so away from systematic funds we're still talking October performance.

There does seem to be more casualties if not blow-ups. For instance looking at their bottom performing funds YTD, a significant portion of them is down >20%, whereas in the previous 2y most of the bottom performing funds were in the -10% to -20% range.