E.Tr@der

Help! I really don\'t understand what\'s going on. Is the whole financial system about to collapse? I don\'t think I should be going on holiday. Will you forgive me if Brennan and I duck out?

From: shirleyw@constellationif.com
To: e-trader@stella-am.com
Subject: What’s happening?

Help! I really don’t understand what’s going on. Is the whole financial system about to collapse? I don’t think I should be going on holiday. Will you forgive me if Brennan and I duck out?

From: steve.falcon@rosenifa.co.uk
To: e-trader@stella-am.com
Subject: What’s happening?

I’ve clients ringing me all through the day asking how I am coping with this crisis. What do I tell them? I know I shouldn’t ask you but I don’t know who else to turn to. I promise to support your fund when things settle down if you can help now.

From: e-trader@stella-am.com
To: jamie.burt@stella-am.com
Subject: How bad is it?

Clients and friends are calling to seek guidance on how best to weather this storm. I deliver the usual platitudes, but the truth is I have no idea how fragile the financial system might be. You understand derivatives better than I. Are we at risk of a meltdown?

From: phil.dump@pgbrokers.co.uk
To: e-trader@stella-am.com
Subject: An opportunity, not a threat.

I don’t expect you to believe me, but this feels like true capitulation. You should be buying. Just look at HBOS. Even Terry Smith thinks it’s cheap.

From: e-trader@stella-am.com
To: liz.trader@corprec.co.uk
Subject: Trouble at mill.

You can hardly miss the carnage in the market at present. Candidly, it’s almost bad enough to cancel the holiday and stay at home. Shirley is. I don’t want to miss my golf, though, but expect heavier than normal Blackberry traffic.

From: e-trader@stella-am.com
To: hugh.golder@stella-am.com
Subject: While I’m away.

I cannot believe you would be so rash as to pursue the deal in these conditions, but knowing you I realise anything is possible. Please keep me in the loop, though. I promise to check my emails daily.

To be continued…