Archive: 07/19/2007
Main News
Fed to Foster Monitoring of Subprime Market
Agencies Team Up to Target Big Lenders of Risky Loans
(By Dina ElBoghdady, The Washington Post)
Agencies Team Up to Target Big Lenders of Risky Loans
(By Dina ElBoghdady, The Washington Post)
UP AND DOWN WALL STREET DAILY By RANDALL W. FORSYTH
The 1,200-Point Crash You Didn't Hear
The meltdown in mortgages has extended from the nether regions to the top tiers. The implications extend beyond credit.
http://online.barrons.com/article/SB118459778293567601.html?mod=djemBF
The 1,200-Point Crash You Didn't Hear
The meltdown in mortgages has extended from the nether regions to the top tiers. The implications extend beyond credit.
http://online.barrons.com/article/SB118459778293567601.html?mod=djemBF
By Michael Mackenzie and Saskia?Scholtes?in?New?York and Stacy-Marie Ishmael MarketWatch
7/17/2007 4:06:02 PM
7/17/2007 4:06:02 PM
Basis Capital in creditor crisis talks -- [at FT Investor]
By James Mackintosh MarketWatch
7/18/2007 2:35:53 PM
By James Mackintosh MarketWatch
7/18/2007 2:35:53 PM
Student Loan ABS Navigates Choppy And Uncharted Waters
From the barrage of media stories and investigations about questionable lending practices, to the looming legislative changes to the federal loan program, to the pending change of ownership and credit profile of the sector's most dominant player, student loans are capturing the market's attention like never before. But in the midst of all these headlines, student loan asset performance remains strong, investors appear steadfast, and origination and securitization of federal and private student loans continue to rise.
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQUBTDQTVsLgHxhilpuHQJhuV2VA
From the barrage of media stories and investigations about questionable lending practices, to the looming legislative changes to the federal loan program, to the pending change of ownership and credit profile of the sector's most dominant player, student loans are capturing the market's attention like never before. But in the midst of all these headlines, student loan asset performance remains strong, investors appear steadfast, and origination and securitization of federal and private student loans continue to rise.
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQUBTDQTVsLgHxhilpuHQJhuV2VA
BAD NEWS BEAR: http://www.nypost.com/seven/07182007/business/bad_news_bear_business_paul_tharp.htm
By PAUL THARP
Bear Stearns stock tumbled to wipe out $512 million in just minutes last night after the firm disclosed that two troubled hedge funds it tried to rescue are now worth almost nothing to investors. The company, with a market value of nearly $20 billion, had already become embarrassed by...
By PAUL THARP
Bear Stearns stock tumbled to wipe out $512 million in just minutes last night after the firm disclosed that two troubled hedge funds it tried to rescue are now worth almost nothing to investors. The company, with a market value of nearly $20 billion, had already become embarrassed by...
Australian Dollar Rises to 18-Year High on Hedge Fund Concerns
Bloomberg - USA
By David McIntyre July 18 (Bloomberg) -- The Australian dollar rose to the strongest in 18 years on speculation losses at a hedge fund run by Bear Stearns ...
See all stories on this topic
Bloomberg - USA
By David McIntyre July 18 (Bloomberg) -- The Australian dollar rose to the strongest in 18 years on speculation losses at a hedge fund run by Bear Stearns ...
See all stories on this topic
Hedge Fund Meltdown Rumors: Chapter Whatever Whispers Of Meltdowns ...
DealBreaker.Com - New York,NY,USA
Rumors have been swirling around about two separate hedge fund meltdowns. According to one set of rumors a multi-strategy hedge fund facing impending doom ...
See all stories on this topic
DealBreaker.Com - New York,NY,USA
Rumors have been swirling around about two separate hedge fund meltdowns. According to one set of rumors a multi-strategy hedge fund facing impending doom ...
See all stories on this topic
CANADA - Several large pension plans have reportedly called for the “30% rule” limiting their influence over acquired companies to be scrapped.
LONDON (HedgeWorld.com)—With the bull market now more than four years in the running it is a fair estimate that equities investors haven't depended a great deal recently on the short-selling skills of hedge fund managers. ......
Institutional allocations to hedge funds continue at a strong pace despite growing competition and some problem funds
July 17, 2007 Tuesday
(Infovest21 News)
July 17, 2007 Tuesday
(Infovest21 News)
Subprime & Yen Unwinding...
Bloomberg - Wednesday July 18, 06:42 BST
Bloomberg - Wednesday July 18, 06:42 BST
Apollo Management is still considering a traditional public offering but will first list shares on proprietary trading systems set up by Goldman Sachs and JPMorgan
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Yield Curve Corner
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Natural Disaster Corner
Climate Prediction http://www.nws.noaa.gov/predictions.php
World Meterological Organization http://severe.worldweather.org/
Tornadoes: http://www.disastercenter.com/tornado.htm
Great Sat Pictures of events: http://www.osei.noaa.gov/Events/Current/FSHScalifornia199_G11.jpg
Tornado Touched Down On Long Island, Officials Say
A twister ripped through Islip Terrace on Long Island as storms hit the
Tri-State area, the National Weather Service has confirmed.
MORE DETAILS: <http://www.wnbc.com/tu/5qqPulKuV.html>
A twister ripped through Islip Terrace on Long Island as storms hit the
Tri-State area, the National Weather Service has confirmed.
MORE DETAILS: <http://www.wnbc.com/tu/5qqPulKuV.html>
Tuesday , 17 Jul 2007
Niger is hoping to double its uranium output over the next four years as two new uranium mines, Imouraren and Teguida, come on line.
Niger is hoping to double its uranium output over the next four years as two new uranium mines, Imouraren and Teguida, come on line.
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Iranian Situation
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Iran halts teenager's execution
AFP via Yahoo! News Wed, 18 Jul 2007 4:36 AM PDT
Iran on Wednesday halted the execution of a teenager who murdered a drug dealer while still a minor, giving his family 10 days to reach a financial settlement with the victim's kin, his lawyer said.
AFP via Yahoo! News Wed, 18 Jul 2007 4:36 AM PDT
Iran on Wednesday halted the execution of a teenager who murdered a drug dealer while still a minor, giving his family 10 days to reach a financial settlement with the victim's kin, his lawyer said.
U.S., Iran to Hold More Talks on Iraq's Future
Washington Post Tue, 17 Jul 2007 6:45 PM PDT
The United States and Iran will hold a second round of critical talks on the future of Iraq in the next 10 days, possibly as early as Saturday, according to U.S. and Middle Eastern officials. The initiative comes despite mounting tensions between the two nations on such issues as Iran's nuclear...
Washington Post Tue, 17 Jul 2007 6:45 PM PDT
The United States and Iran will hold a second round of critical talks on the future of Iraq in the next 10 days, possibly as early as Saturday, according to U.S. and Middle Eastern officials. The initiative comes despite mounting tensions between the two nations on such issues as Iran's nuclear...
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Avian Flu
Avian influenza (Epidemic and Pandemic Alert and Response (EPR))
Avian influenza (Western Pacific Region)
Influenza and avian influenza (European Region)
Avian influenza (Western Pacific Region)
Influenza and avian influenza (European Region)
Avian influenza (Fact Sheet)
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Plansponsor.com
The probe into Alan Hevesi's activities when he was New York
Comptroller now includes allegations of whether his sons profited from
the state's $154 billion pension fund, the New York Times reported.
New York State Attorney General Andrew Cuomo and Albany County
District Attorney David Soares want to know whether Hevesi was granted
favors by financial services firms in exchange for pension business.
In particular, they are looking into whether a decision by the
comptroller's office to invest pension money in hedge fund Third Point
Capital in 2005 was linked to the hedge fund's decision to hire
Hevesi's son, Daniel, a few months later. MORE at
http://newsmail.plansponsor.com/cgi-bin1/DM/y/eBTps0Tt3fc0CBD0Ilce0E1
Comptroller now includes allegations of whether his sons profited from
the state's $154 billion pension fund, the New York Times reported.
New York State Attorney General Andrew Cuomo and Albany County
District Attorney David Soares want to know whether Hevesi was granted
favors by financial services firms in exchange for pension business.
In particular, they are looking into whether a decision by the
comptroller's office to invest pension money in hedge fund Third Point
Capital in 2005 was linked to the hedge fund's decision to hire
Hevesi's son, Daniel, a few months later. MORE at
http://newsmail.plansponsor.com/cgi-bin1/DM/y/eBTps0Tt3fc0CBD0Ilce0E1
A scant 13% of Americans currently invest in international stocks, and
only 19% plan to do so over the next five years. The survey found
that an investor's likelihood to invest in international stocks
increases with income level, as only 10% of those with an income under
$25,000 say they plan to invest in international stocks, while 38%
with incomes over $75,000 say they plan to do the same.
Interestingly, men are 50% more likely to invest in international
equities than women, indicating a higher risk tolerance among male
investors, according to a survey conducted by asset manager Schroders.
However, most Americans are not looking at those investments in the
near future: 49% of American investors plan to invest in CDs, savings
accounts, or money market funds in the next five years, and 35% of
respondents said they will invest in mutual funds. MORE at
http://newsmail.plansponsor.com/cgi-bin1/DM/y/eBTps0Tt3fc0CBD0Ilci0E5
ON THIS DAY: In 64 A.D., a fire erupted in Rome, eventually
destroying nearly two-thirds of the city by the time it died out more
than a week later. Emperor Nero (out of town at the time) blamed
members of the "mysterious" Christian cult for the conflagration and
launched the first Roman persecution of Christians in response. In
1969, shortly after leaving a party on Chappaquiddick Island, Senator
Edward "Ted" Kennedy of Massachusetts drove an Oldsmobile - and
28-year-old passenger Mary Jo Kopechne - off a wooden bridge at
Chappaquiddick Island. In 1927, Ty Cobb set a major league baseball
record by getting his 4,000th career hit (he hit another 191 before
retiring the next year). In 1964, the Beatles album "A Hard Days
Night" was released.
WEDNESDAY WISDOM:"If you want to know what a man's like, take a
good look at how he treats his inferiors, not his equals." - - J.K.
Rowling, Harry Potter and the Goblet of Fire, 2000, spoken by the
character Sirius Black
only 19% plan to do so over the next five years. The survey found
that an investor's likelihood to invest in international stocks
increases with income level, as only 10% of those with an income under
$25,000 say they plan to invest in international stocks, while 38%
with incomes over $75,000 say they plan to do the same.
Interestingly, men are 50% more likely to invest in international
equities than women, indicating a higher risk tolerance among male
investors, according to a survey conducted by asset manager Schroders.
However, most Americans are not looking at those investments in the
near future: 49% of American investors plan to invest in CDs, savings
accounts, or money market funds in the next five years, and 35% of
respondents said they will invest in mutual funds. MORE at
http://newsmail.plansponsor.com/cgi-bin1/DM/y/eBTps0Tt3fc0CBD0Ilci0E5
ON THIS DAY: In 64 A.D., a fire erupted in Rome, eventually
destroying nearly two-thirds of the city by the time it died out more
than a week later. Emperor Nero (out of town at the time) blamed
members of the "mysterious" Christian cult for the conflagration and
launched the first Roman persecution of Christians in response. In
1969, shortly after leaving a party on Chappaquiddick Island, Senator
Edward "Ted" Kennedy of Massachusetts drove an Oldsmobile - and
28-year-old passenger Mary Jo Kopechne - off a wooden bridge at
Chappaquiddick Island. In 1927, Ty Cobb set a major league baseball
record by getting his 4,000th career hit (he hit another 191 before
retiring the next year). In 1964, the Beatles album "A Hard Days
Night" was released.
WEDNESDAY WISDOM:"If you want to know what a man's like, take a
good look at how he treats his inferiors, not his equals." - - J.K.
Rowling, Harry Potter and the Goblet of Fire, 2000, spoken by the
character Sirius Black
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Opalesque’s Corner
- Editor's Note
- Bear Stearns tells hedge fund investors there`s `no value left`, Subprime uncertainty fans out, more bond fire sales, Bear Stearn`s Dear Investor letter, Bear Stearn`s Dear Investor letter explained, Billionaire`s money manager Jeffrey Epstein caught in Bear funds, Dollar slumps to record low versus Euro on Bear Stearns losses, Subprime woes spread to loans; stocks next, Debacle raise questions on valuations and prime broker`s risk control
- Hedge fund Black Pearl gears up to buy subprime bonds, cheaply, Aberdeen: Opportunities to emerge over next year or two as crisis deepens
- US Senator Reid: Extensive hearings needed on hedge fund bill
- Third Point London fund leaves IPO window open for another 24 hours, London and Amsterdam fight for predominance in single-manager hedge funds, but investors remain wary of alternative vehicles, Apollo to list on Goldman system, however full IPO still possible
- EU watchdogs allow hedge fund indices in UCITS
- Opalesque Exclusive: The nuts and bolts of a grey box: Investors pour money in firm and funds alike
- HFRI weighted composite index up 0.89% in June, 7.70% YTD, FoF index up 0.77%, 7.92% YTD, Barclay CTA Index up 1.66% in June
- Angler Capital casts offshore fund, Vision Capital sets sights to raise $100m for Global Futures fund, Gerken Capital Associates to launch LatAm fund with BBVA, Arch Investment launches sustainable finance fund, Henderson confirms Asia Pacific property fund launch, AIP mutual funds hedge fund strategies passes $500m mark
- Johnson taps into hedge FoFs, Venture with Deutsche Bank meant to help blacks grow wealth
- Karachi exchange may sell 10% to overseas bourse, Pakistan says OMX vying for stake in Karachi bourse,DIFX eyes possible stake in Pakistan exchange, China licenses first two financial futures brokerage firms
- Hedge funds flock to the Amazon as 3 years performance outstrips rest of BRIC
- Matrix-ims says software package ready to support launch of retail hedge FoFs in UK
- London gets free Wi-Fi network
- AXA and Winterthur Wealth Management plan to launch new multi-manager division
- Partners Group to access Japanese pensions via Sumitomo deal
- South African regulator to create new tax rules first, then investment act for hedge funds
- Sharia Compliant Hedge Funds: Legal problems in respect of long/short strategy and the role of the prime broker
- Confederation of Indian Industry expects higher growth rate, PE investments in India to reach record $10bln
- China hedge funds no riskier than US funds: survey, China hedge funds deliver alpha
- Activist News: Breeden makes $22m in Applebee, PDL BioPharma rises on Loeb letter, Massey executive resigns, Japan`s first hostile takeover moved a step closer to reality
- News Briefs: Scaturro to helm Goldman wealth unit, Hirst sells $265m of art, skull still for sale, Gates foundation reports 8% stake in Berkshire Hathaway
- .And finally: `Who hasn`t felt like doing that?` Police excuse angry computer user for outburst
- Logon: http://www.opalesque.com/main.php?act=archive
- Bear Stearns tells hedge fund investors there`s `no value left`, Subprime uncertainty fans out, more bond fire sales, Bear Stearn`s Dear Investor letter, Bear Stearn`s Dear Investor letter explained, Billionaire`s money manager Jeffrey Epstein caught in Bear funds, Dollar slumps to record low versus Euro on Bear Stearns losses, Subprime woes spread to loans; stocks next, Debacle raise questions on valuations and prime broker`s risk control
- Hedge fund Black Pearl gears up to buy subprime bonds, cheaply, Aberdeen: Opportunities to emerge over next year or two as crisis deepens
- US Senator Reid: Extensive hearings needed on hedge fund bill
- Third Point London fund leaves IPO window open for another 24 hours, London and Amsterdam fight for predominance in single-manager hedge funds, but investors remain wary of alternative vehicles, Apollo to list on Goldman system, however full IPO still possible
- EU watchdogs allow hedge fund indices in UCITS
- Opalesque Exclusive: The nuts and bolts of a grey box: Investors pour money in firm and funds alike
- HFRI weighted composite index up 0.89% in June, 7.70% YTD, FoF index up 0.77%, 7.92% YTD, Barclay CTA Index up 1.66% in June
- Angler Capital casts offshore fund, Vision Capital sets sights to raise $100m for Global Futures fund, Gerken Capital Associates to launch LatAm fund with BBVA, Arch Investment launches sustainable finance fund, Henderson confirms Asia Pacific property fund launch, AIP mutual funds hedge fund strategies passes $500m mark
- Johnson taps into hedge FoFs, Venture with Deutsche Bank meant to help blacks grow wealth
- Karachi exchange may sell 10% to overseas bourse, Pakistan says OMX vying for stake in Karachi bourse,DIFX eyes possible stake in Pakistan exchange, China licenses first two financial futures brokerage firms
- Hedge funds flock to the Amazon as 3 years performance outstrips rest of BRIC
- Matrix-ims says software package ready to support launch of retail hedge FoFs in UK
- London gets free Wi-Fi network
- AXA and Winterthur Wealth Management plan to launch new multi-manager division
- Partners Group to access Japanese pensions via Sumitomo deal
- South African regulator to create new tax rules first, then investment act for hedge funds
- Sharia Compliant Hedge Funds: Legal problems in respect of long/short strategy and the role of the prime broker
- Confederation of Indian Industry expects higher growth rate, PE investments in India to reach record $10bln
- China hedge funds no riskier than US funds: survey, China hedge funds deliver alpha
- Activist News: Breeden makes $22m in Applebee, PDL BioPharma rises on Loeb letter, Massey executive resigns, Japan`s first hostile takeover moved a step closer to reality
- News Briefs: Scaturro to helm Goldman wealth unit, Hirst sells $265m of art, skull still for sale, Gates foundation reports 8% stake in Berkshire Hathaway
- .And finally: `Who hasn`t felt like doing that?` Police excuse angry computer user for outburst
- Logon: http://www.opalesque.com/main.php?act=archive
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Misc. Items of Interest
ADVENT INTERNATIONAL ACQUIRES MAJORITY STAKE IN SOPHIS
Private equity outfit Advent International has acquired a a majority stake in Paris-based portfolio and risk management technology vendor Sophis through a leveraged buyout (LBO).
More on this story: http://www.finextra.com/fullstory.asp?id=17196
Private equity outfit Advent International has acquired a a majority stake in Paris-based portfolio and risk management technology vendor Sophis through a leveraged buyout (LBO).
More on this story: http://www.finextra.com/fullstory.asp?id=17196
Top Al-Qaida Member In Iraq Arrested
Al-Qaida Iraq's most senior Iraqi was captured on July 4, U.S. military
officials say.
MORE DETAILS: <http://www.wnbc.com/tu/5qqmB2zwN.html>
Al-Qaida Iraq's most senior Iraqi was captured on July 4, U.S. military
officials say.
MORE DETAILS: <http://www.wnbc.com/tu/5qqmB2zwN.html>
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Funnies, Facts, Quotes, etc….
bibelot BEE-buh-loh, noun:
A small decorative object without practical utility; a trinket.
1944: Allied forces captured the French town of Saint-Lô, a vital communications centre, during World War II.
1927: American baseball player Ty Cobb collected his 4,000th career hit.
1918: French General Ferdinand Foch launched a counterstrike that forced the Germans into a hasty retreat during the Second Battle of the Marne, the last large German offensive of World War I.
1817: The English novelist Jane Austen died in Winchester, Hampshire.
1195: The Almohads were victorious over the forces of King Alfonso VIII of Castile in the Battle of Alarcos.
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Conference, Courses, Books, Papers
Great Research Sites:
Merrill Lynch research Link to full report including important disclosures see example
John Mauldin’s Weekly Analysis
James Altucher’s Website:
Other useful sites:
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Index Corner
The CSFB/Tremont Hedge Fund Index www.hedgeindex.com.
The Cogent Dynamic Averages http://www.cogenthedge.com/home/inv_strategy.asphttp://www.cogenthedge.com/home/inv_strategy.asp
The Dow Jones Indices: http://www.djhedgefundindexes.com/index.cfm?event=viewPremiumContent (free registration)
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Regulatory Info
investor.info@sfc.hkhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.htmlhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.htmlhttp://www.sfc.hk/sfc/html/EN/inutilbar/contact/contact.html
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Disclaimer
The information contained in this document does not constitute an offer or solicitation to sell any security or other type of vehicles to or by anyone in any jurisdictions, nor should it be regarded as a contractual document. Under no circumstances should the information provided on this document be considered as financial advice, or as a sufficient basis on which to make investment decisions. The information contained herein has been gathered by Investor DNA, LLC from sources deemed reliable as of the date of publication, but no warranty of accuracy or completeness is given. Investor DNA, LLC is not responsible for and provides no guarantee with respect to any of the information provided herein or through the use of any hypertext link. Past results are no indication of future performance. All information in this newsletter is for educational and informational purposes and does not constitute investment, legal, tax or accounting advice. All materials are the property of the
respective publishers, as referenced by header and appropriate hypertext links.
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