Gold, Hedge Funds & Wayne Rooney, Cabbies & Lawyers

The Daily Telegraph reports that the documents which appeared to confirm that former Chilean dictator Augusto Pinochet had a large stash of gold in an HSBC branch in Hong Kong are bogus. An HSBC spokesperson has said that 'these documents are completely forged from beginning to end. There are ridiculous spelling mistakes, and stamps that purport to belong to a security firm that doesn't exist. Anybody can see in minutes that these are forged'.

Bloomberg reports that hedge funds are now trying to get some action out of football. After doing wine, whiskey and movies, firms are now on the look out for the next Wayne Rooney. There are apparently two UK-registered funds which are in the market to acquire a financial interest in would-be football superstars - Hero Investments and Sports Asset Capital. Investors will be able to invest $470,000 in the hope that they will get a piece of the next Rooney. The dosh will only really roll in if the firms pick up young talent which is eventually sold to one of the big European football clubs.

Finally, The New York Times 'Deal Book' reports that New York cabbies are having rather a tougher time since the fall of hedge fund Amaranth. Each work day morning firm traders and analysts would grab a fare from Metro North train station for the 20 minute drive to Amaranth's offices on the outskirts of Greenwich. They would then want to come back again each evening. Since the hedge fund started to wind down and staff began to be laid off, however, there's hardly any cab business from that source. Now the cabbies mostly bring lawyers - there to help with the close down.

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