Definition of feral hogs

The term feral hogs became renowned for its use in a financial context when a top US central banker, interviewed by the FT in June 2013, talked about the behaviour of big money in markets.

Richard Fisher, president of the Dallas Federal Reserve and a former hedge fund manager, said the "feral hogs" of financial markets were trying to force the US Federal Reserve to back down on its plans to taper its bond buying programme.

“Markets tend to test things,” Mr Fisher told the FT. “We haven’t forgotten what happened to the Bank of England [on Black Wednesday]. I don’t think anyone can break the Fed . . . But I do believe that big money does organise itself somewhat like feral hogs. If they detect a weakness or a bad scent, they’ll go after it.”


feral hogs in the news

The comment about feral hogs, published on June 24 2013, had the effect of slightly reining in rising rates, according to a CNBC report published later the same day. "Mr Fisher used 'feral hogs' as a reference. We all know bulls and bears make money and hogs get slaughtered," said one commentator interviewed by the news organisation.

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