James Beddington
James Beddington has spent two decades reporting on the City of London and UK financial markets. He writes about how markets really work, the players behind the prices, and what private investors need to know to level the playing field.

Synergies: the polite word that can hide merger risk
Merger synergies can make a takeover sound tidy. Learn what the phrase means, where the risks hide and what investors…

Institutional order execution: how big trades are hidden
Institutional order execution often happens in slices, not one obvious trade. Learn how VWAP, liquidity and day-long buying can change…

Hedge fund fees: what two and twenty really costs
Hedge fund fees can take a large share of returns. This guide explains two and twenty, hurdle rates, incentives and…

Tree shakes: how market makers move small-cap prices
Tree shakes can make small-cap price moves look more alarming than they are. Here is how to read the screen…

Tree shakes: how market makers move small-cap prices
Tree shakes explained: how market makers, liquidity and quote moves can affect small-cap investors before they react to price action.

Pete and the tree shake: a market maker’s day in plain English
Tree shakes can make small-cap price moves look more meaningful than they are. Learn how to read the screen without…

Gareth Hall, drip-fed exclusives, and the smaller-company PR underbelly
Not every "exclusive" you read in a tip sheet or trade publication arrived by accident. Some of them were placed…

Hostile takeover: how the headline battle is fought
When two PR teams fight over the same story in a hostile takeover, every headline is a move. Inside the…

Inside the press release: how a 20% profit fall becomes ‘resilient results in a year of extraordinary volatility’
Every results announcement tells two stories. One is in the numbers. The other is in everything around them. Here is…

The DOJ table, then and now: what 25 years of insider dealing prosecutions actually show
The FCA's own conviction data tells the same story Ian Lyall told with DOJ figures in 2010: insider dealing is…