Don't sell yourself short

As one of the UK's largest insurers comes out against shorting there is a worrying outbreak of sour grapes among some sections of the UK financial services industry.

As the recent UBS Warburg study into market volatility points out, the voices against hedge funds have grown louder and more numerous but have not become necessarily more informed, enlightened or intelligent.

In July, Legal & General told the Sunday Times newspaper that the UK regulator should make it less attractive for hedge funds t