Murray claims short selling ban averted 'wholesale panic'

The ban on short selling implemented in many markets during September was necessary to restore order in the markets, although short selling was not really the problem that needed to be addressed, according to Castlestone Management's founder and joint managing director, Angus Murray. He said among the unintended consequences of the ban - which was rushed into place after the collapse of Lehman Brothers and the wobbles at Goldman Sachs and Morgan Stanley - would be an increase in the risk profile of long/short funds, which have been highly favoured by cautious investors during the market t...