The men behind the legendary finance blog Zero Hedge have been unmasked after one former blogger with the site revealed the identity of his employers.

Speaking with Bloomberg reporters Tracy Alloway and Luke Kawa, Colin Lokey — described as a "political science graduate with an MBA and a Southern twang" — said he was part of a three-man team running Zero Hedge, the blog best known for its sensationalist headlines and bearish outlook on the world.

Lokey, 32, says the other men behind the site are 37-year-old Daniel Ivandjiiski, a Bulgarian former hedge fund analyst, and Tim Backshall, a 45-year-old credit derivatives strategist. Lokey claims to have worked for Zero Hedge for more than a year.

The identity of the bloggers running Zero Hedge has long been the subject of speculation in the financial community, with Ivandjiiski often cited as the likely source of much of the site's content. As early as 2009, speculation that Ivandjiiski could be behind the blog appeared in US media, with a New York Post article titled "BLOGGER MAY HAVE A PAST" speculating that he was in fact behind Zero Hedge.

Ivandjiiski worked in a hedge fund before being kicked out of the securities industry during the height of the financial crisis in 2008 for insider trading, the report says.

Backshall frequently tweets under the handle @credittrader and has made appearances on CNBC. In 2012, for example, Backshall appeared on CNBC by phone to discuss the credit default swap market. The screenshot below is taken from that appearance. Backshall declined to comment to Bloomberg on the matter, while Ivandjiiski confirmed that the three men were the only ones on Zero Hedge's payroll in the past year. 

Secrecy at Zero Hedge is helped by the fact that all reports on the site are filed under the byline Tyler Durden, taken from one of the protagonists of the cult movie "Fight Club."

David Fuller's view

Subscribers occasionally send me articles from Zero Hedge, in fact, I received two more this week.  They are invariably topical, colourfully written and sometimes informative.  I have published a few of them in past years although I am unlikely to do so again, now that I know more about the site. 

I have nothing against Zero Hedge and their articles are intelligently written, albeit sensationalist.  However, I have always been wary of financial articles written either anonymously or under pen names.  In ‘Tyler Durden’s’ case, I regard them as clever financial entertainment.