Dick spring the hedge fund director

Halo

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From the indo.

''DICK Spring is a director at a currency speculation fund manager that has made big money by shorting the euro.

The government-nominated AIB public interest director and his colleagues at Alder Capital have made huge profits as financial markets savage the euro over fears that the EU may implode over Greek, Spanish and Portuguese debt mountains. The euro has tumbled against the dollar in recent weeks as speculators and hedge funds smell blood.

Alder manages the €38.9m Friends First Insight Currency Fund, which scored double-digit returns by shorting the euro in 2009. It grew returns by 12.17 per cent by betting against the euro and the US dollar on currencies like sterling and the Australian and Canadian dollar, its latest quarterly report says.

The former Labour party leader and Tanaiste once slated the "financial pirates", or currency speculators, for putting pressure on the Irish punt in the early 1990s.

Spring is a non-executive director and shareholder at at Alder Capital. ''

Spring's fund shorts the euro - Irish, Business - Independent.ie



This was back in mid may of this year and i did not see it up on this board and thought it was worth highlighting especially considering spring's role within the party past and present and especially how his work would seemingly run to the contrary to the supposed socialist and left wing ethos of his party.


Any opinions from labour party members on here with regards to mr spring and his business dealings?
 


Rosmuc

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I have asked this already, how does this sit with rank and file Labour people as Dick Spring is campaign manager for his nephew Arthur John( ex employee of Anglo Irish Bank) in the next GE?
 

ocoonassa

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LP, FF, FG, SF, PD et al.

At least two million idiots will vote for them at the next election.
 

Halo

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I have asked this already, how does this sit with rank and file Labour people as Dick Spring is campaign manager for his nephew Arthur John( ex employee of Anglo Irish Bank) in the next GE?
Is this true! ?
 

Cael

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Anyone who thinks the Labour Party are a Socialist party needs their heads examined. A gang of spivs the lot of them.
 

stoichkov

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spring showed his true colours in 1992 when he got into bed with albert reynolds.

and that was swiftly followed by the grubby little "jobs for the boys/girls" episode, with labour tds doling out sinecures to their offspring, cousins and various friends.

spring is about as much of a socialist as bertie ahern.
 

Cael

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I saw an interview with Liz McManus in her drawing room, and, for a minute, I thought it was the Queen of England who was being interviewed. Talk about the luxury...
 

RahenyFG

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LP, FF, FG, SF, PD et al.

At least two million idiots will vote for them at the next election.
PDs disbanded last year. At least there'll be no more idiots voting for them.
 

anewbeginning

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I've never had much time for Dick Spring, particularly since he left politics.

He's so much a capitalist now as to make the PD's look left wing.
 
B

birthday

I saw an interview with Liz McManus in her drawing room, and, for a minute, I thought it was the Queen of England who was being interviewed. Talk about the luxury...
Lady Wicklow...what did you expect?
DL brought a lot of wealth to the labour Party
 

anewbeginning

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I don't remember who said it, but someone once said, the further left someone is, the more bourgoise their tastes are.

No doubt someone will be able to tell us who said it.
 

Tea Party Patriot

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I would certainly be far from a Labour Party supporter but I have this to say. What is with people knocking Dick Spring for being a director of a hedge fund? It is a perfectly acceptable way for him to make a living. Hedge funds are necessary vehicles for trading in currencies and vital to the markets. If they correctly believed that the Euro was going to head south it was because of inherent weakness in the Euro and not because of any actions they took.

I must say that what really worries me with the Irish left is the manner in which they knock anyone who tries to better themselves beyond their benchmark of "the average industrial wage". God forbid that anyone should be a success beyond the norm, and heaven forbid that a former elected representative of a left wing party should rise above the average mans salary.
 

Catalpa

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I would certainly be far from a Labour Party supporter but I have this to say. What is with people knocking Dick Spring for being a director of a hedge fund? It is a perfectly acceptable way for him to make a living. Hedge funds are necessary vehicles for trading in currencies and vital to the markets. If they correctly believed that the Euro was going to head south it was because of inherent weakness in the Euro and not because of any actions they took.

I must say that what really worries me with the Irish left is the manner in which they knock anyone who tries to better themselves beyond their benchmark of "the average industrial wage". God forbid that anyone should be a success beyond the norm, and heaven forbid that a former elected representative of a left wing party should rise above the average mans salary.
But he's still involved on politics and built his career on left wing credentials.

TBH I never found him politically very credible so this revelation is par for the course IMO.
 

Tea Party Patriot

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But he's still involved on politics and built his career on left wing credentials.

TBH I never found him politically very credible so this revelation is par for the course IMO.
Firstly how is this a "revalation", secondly can you explain to me what is wrong with someone working for a hedge fund. I have worked in finance for a large part of my career and I cannot for the life of me see what "crime" Dick Spring is committing here???
 


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