Monday, 7 April 2008

Barclays Capital: three new forex-tracking indices!

Barclays Capital has launched a range of indices that track foreign exchange volatility. About fucking time. I've been telling Bob Diamond to pull his finger out for ages. I am particularly interested in the BetaVol index. Apparently, it is for investors who are afraid of falling markets. Well, we're all afraid of falling markets, aren't we? Or maybe not. I know I am anyway, and I think it takes a real man to admit it.

I have been thinking though: wouldn't an index for those investors who are afraid of money ghosts be a damn sight more useful? Yes, I'm afraid the money ghost problem has got worse, at least it has in the Square Mile. Every time I go into the Square Mile now, I have to keep my hand on my wallet. And yet I don't have to do this in Canary Wharf. Why not? Arthur Simmons reckons it's because there are far more shamans working in Canary Wharf, and the ghosts are scared of them. Maybe. Or it could be because the Square Mile is older. There are probably ghosts there that have been hanging around for a hundred years or more. Whatever the reason, all I know is that money ghosts are a bigger threat to us than the credit crunch. I'll have to speak to Bob again, see if he can do something. Watch this space.