CAIRN-INT.INFO : International Edition

This text is based on fieldwork carried out among fund managers investing their clients’ money in credit derivatives. The analysis shows that employees present themselves as the source of the decision to invest by applying procedures that involve a multiple and contradictory theoretical figure of an individual investor. Yet their decision is actually the result of the partly hierarchical interactions within their company, and it follows the rules of the network of experts where credit derivatives are produced and exchanged. Thus, the decision does not belong to an individual “investor,” but it is spread throughout these social spaces.

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