Connaught Plc - An Analysis

DiogenesJ,

Well, I rather think that you are mistaken. The orders (there were six stocks and the order total was about £3.5m - and I presume repeated with a number of other brokers) were ridiculously large for market conditions - as those who have tested matters this last week will confirm there is no size and chasing stock has just been a waste of time.

No, the efffect of these orders was to achieve highest possible closing values for performance fee computation purposes. Given that the bargains were deliberately poorly executed just to enrich the fund managers (after all, these positions will require to be unwound from 3rd January 2006 onwards) that is, I not too humbly submit, theft.

Simon Cawkwell