Traders rattled after huge bets from mystery player

Trading Desk

Who's the 'dude' ?

There’s a specter haunting stock traders in Istanbul that some are calling “the dude.”

Bloomberg News reports that a mystery investor who first appeared a year and a half ago with $450m of bets on a single day, almost double the market average, is now executing major transactions with increasing frequency, scaring away competitors who can’t figure out when he or she will strike next, traders and bankers said.

Turgay Ozaner and his partners at Istanbul Portfolio have been scouring the official daily trading recap for months for signs of the shadowy figure’s identity, but it’s a code they’ve yet to crack. Whoever it is seems to have skipped from one local brokerage to the next honing his system and turning the latest, Yatirim Finansman, into the biggest net buyer on the market by far.

“Nobody knows anything for sure,” Ozaner said in his office in a picturesque neighborhood on the shores of the Bosporus. “And this is Turkey, where usually we all know what’s going on.”

To access the complete Bloomberg News article hit the link below:

Mystery `Dude' Rattles Turkish Stock Traders With Massive Bets

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