Street Smart
Inside knowledge on UK financial markets and investing. How the City actually works — and what that means for the private investor.
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…