Main News

 

INDICES CROSS UP MARKETS: http://www.nypost.com/seven/07292007/business/indices_cross_up_markets_business_john_aidan_byrne.htm
By JOHN AIDAN BYRNE
Investors who have gotten a little agita over the wild swings in the markets the past couple of weeks better keep the Bromo-seltzer close: there's more volatility on the way. The S&P 500 Volatility Index, or VIX, has jumped more than 33 percent in the past week and, in an ominous sign...

 

In Key Japanese Vote Today, A List of Unlikely Job Seekers
TOKYO, July 29 -- There's Peru's former president, Alberto Fujimori; and Yuko Tojo, whose grandfather ordered Japan's attack on Pearl Harbor; and the inventor who calls himself Dr. Nakamats and claims he knows how to turn North Korean missiles around in midair.
(By Hiroko Tabuchi, The Washington Post)

 

Market Maelstrom
After Stocks' Two-Day Nose Dive, the Talk Ranged From Long-Term to Downturn
(By Nell Henderson, The Washington Post)

 

Subprime Losses Small at Fannie, Freddie
Forbes - NY,USA
AP 07.27.07, 2:43 PM ET The deteriorating subprime mortgage bond market will have limited impact on government-sponsored mortgage companies Freddie Mac and ...
See all stories on this topic

 

CLO market has almost shut down, experts say
By Alistair Barr MarketWatch
7/26/2007 6:58:00 PM

 

Reports: Hedge Fund Down 10 Percent
Forbes - NY,USA
AP 07.27.07, 6:44 PM ET Sowood Capital Management LP, a Boston-based hedge fund founded by a former manager of Harvard university's endowment fund, ...
See all stories on this topic

 

The Hedge Fund Class and the French Revolution
New York Times Sat, 28 Jul 2007 11:52 AM PDT
In the midst of a war, is it fitting and morally right for the richest of the rich to be paying either very low taxes or no tax at all?

 

Path cleared for Portus payouts
The Globe and Mail Sat, 28 Jul 2007 3:17 AM PDT
Investors in defunct Portus Alternative Asset Management Inc. will get some of their money back this fall, after a judge cleared the way yesterday for the first payouts from the hedge fund's receiver.

 

Market Mayhem
Why stocks got whacked and where they go from here. Is the well running dry?
http://online.barrons.com/article/SB118499576812874059.html?mod=djem_bwrc

 

THE STRIKING PRICE DAILY  By STEVEN M. SEARS
Options Plays on Stocks the Hedge Funds Love
Stocks with large hedge-fund ownership are expected to do better when the market rebounds, and options offer a risk-adjusted way to trade the stocks.
http://online.barrons.com/article/SB118548833812479519.html?mod=djemBF

 

Asian currencies sink as credit fears bite -- [at FT.com]
By Joe Leahy in Mumbai and Jack Burton in Singapore FT.com
7/27/2007 4:16:34 AM

 

Goldman Bets Hedge Money of Its Own -- [at NY Times]
By JENNY ANDERSON New York Times
07/27/2007 04:33:16

 

 

Bloomberg - USABy Yalman Onaran July 26 (Bloomberg) -- Bear Stearns Cos. seized securities from one of its failed hedge funds to control their sale as prices plummet amid ... Bloomberg - USABy Yalman Onaran July 26 (Bloomberg) -- Bear Stearns Cos. seized securities from one of its failed hedge funds to control their sale as prices plummet amid ... Bloomberg - USABy Yalman Onaran July 26 (Bloomberg) -- Bear Stearns Cos. seized securities from one of its failed hedge funds to control their sale as prices plummet amid ... Bloomberg - USABy Yalman Onaran July 26 (Bloomberg) -- Bear Stearns Cos. seized securities from one of its failed hedge funds to control their sale as prices plummet amid ... Bloomberg - USABy Yalman Onaran July 26 (Bloomberg) -- Bear Stearns Cos. seized securities from one of its failed hedge funds to control their sale as prices plummet amid ... Bloomberg - USABy Yalman Onaran July 26 (Bloomberg) -- Bear Stearns Cos. seized securities from one of its failed hedge funds to control their sale as prices plummet amid ...

Solvency II "could threaten hedge funds"
http://www.ipe.com/news/Solvency_II_could_threaten_hedge_funds__22787.php

Hedge funds should love a crisis. It is when market inefficiencies and mispricings are at their greatest. The current structured credit problems are nicely demonstrating the differences between good managers and non-skilled funds that simply exploited an unstable and temporary risk premium. Skill based, long volatility strategies are really the only fund management products likely to profit from market turbulence except perhaps government bonds.

Thursday , 26 Jul 2007
The current spot price decrease is the largest single-week drop in the history of weekly reported prices.

Amaranth ordered by FERC to pay $291 million in fines, penalties
By David Weidner MarketWatch
7/26/2007 11:44:00 AM

 

Top Japanese broker hit by US sub-prime woes
Nomura, Japan's largest broker, said it was considering withdrawing from the US residential mortgage-backed securities market following substantial losses related to the sub-prime mortgage market and a writedown of its US operations.  (Financial Times)
http://mail2.efnmail.co.uk/r/309350/MTk4MTI1OjE0NjUw/

 

The price of uranium, the fuel of the nuclear industry, has suffered its first fall in more than four years – after rising more than 10-fold

 

Hedge fund FRM says US CEO to leave
Reuters - USA
NEW YORK, July 26 (Reuters) - Financial Risk Management (FRM), a $12 billion fund that invests in hedge funds, said on Thursday that Andy Brindle, ...
See all stories on this topic

 

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Yield Curve Corner

 

Bernanke's subprime non "containment" extends to commercial mortgages
Blogging Stocks - USA
Fed Chair Ben Bernanke may be regretting the speeches he gave which tried to comfort investors with the idea that problems in the subprime mortgage market ...
See all stories on this topic

 

Will Bernanke Bail Out This Credit Meltdown?
The collapse of liquidity recalls the minicrash of 1989, when the UAL buyout financing fell through and the LTCM crisis of 1998. What will the Fed do now?
http://online.barrons.com/article/SB118549254292079642.html?mod=djemBF

 

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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:

 

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Iranian Situation

 

Iran says U.S. is too stretched to attack it
Reuters via Yahoo! News Sun, 29 Jul 2007 2:52 AM PDT
Iranian Foreign Minister Manouchehr Mottaki has told a German magazine that the United States has too many problems in Iraq to become involved in armed conflict with Iran.

 

Bush to forge big arms deals to counter Iran
The New Zealand Herald Sun, 29 Jul 2007 10:25 AM PDT
The Bush Administration is expected to announce a massive series of arms deals in the Middle East tomorrow which is being seen as part of a diplomatic offensive against the growing influence of Iran in the volatile region.

 

 

Analysis: Tough sanctions may tame Iran
UPI Fri, 27 Jul 2007 9:15 PM PDT
Strengthening existing sanctions against Iran and divesting state pension funds of Iran-connected assets may offer the best hope to change the regime's behavior.

 

US readies arms deal with Saudis, eyeing Iran: official
AFP via Yahoo! News Fri, 27 Jul 2007 8:47 AM PDT
The United States is readying a major arms package for Saudi Arabia with an eye to countering a changing threat from Iran, a senior US defense official said Friday.

 

Iran Economy Report: July 2007
Payvand Iran News Fri, 27 Jul 2007 9:10 AM PDT
According to the figures published by the Central Bank of Iran (CBI), the value of Iran's foreign assets grew by around 30% to over $62 billion during the past Iranian year (ended 20 March 2007). -Turquoise Partners

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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 (Fact Sheet)

Q&A: Avian influenza: am I at risk?

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Plansponsor.com

 

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Opalesque’s Corner

 

- Editor's Note
- Special Research Report on Water: Analysis and opportunities for hedge funds, investors
- Mark Anson joins Nuveen Investments, Family reasons: Anson departure lands a heavy blow on Hermes
- Jon Aisbitt to succeed McGrath as Man Group Chairman
- FRM implements new functional management structure following strong investment performance, founder Tomlinson becomes Group Chairman
- Herbert Item is new RMF CEO, Siegrist to retire
- Opalesque Exclusive: 300 sunny days, supportive legislators: How hedgies build empires in Santa Fe (part 1)
- The International Association of Financial Engineers NYC event: Is Subprime the `Canary in the Mine?`
- Bear Stearns seizes assets of its high-grade hedge fund, Moody`s economist: World is one hedge-fund collapse away from crisis , Moody`s: Hedge fund investors to lose $100bln to $125bln from mortgage defaults, Perfect storm for tech? Goldman says crunch will hit LBOs technology, media and telecom (TMT) deals, Global stocks hit by flight to safety, banks take $40bn of high-yield debt on their balance sheets, Banks burnt by credit meltdown, Asia bond risk soars as investors seek safety after global rout
- Drury launches currency strategy, Dalton, Greiner  to launch 130/30 fund
- RSP creates first practice to sell minority stakes, hedge funds expected to participate
- Hedge funds, banks create record floating-rate Munis
- New wave of investors scoop up stakes in films from PE and hedge funds who are losing patience
- Cross-margining futures in political limbo
- PE Tax Law: Will it pass? Lawyers predict larger package reforming entire tax code
- CAIA registration closes Monday
- Update: Amaranth faces $200m penalty, U.S. seeks $458m as gas-market cases expand, Senate to hold hearing and release a 130-page report `Excessive Speculation in the Natural Gas Market`, SEC bars Vincent Montagna (Tiburon Asset)
- Montreal Exchange to launch Carbon Trading this year
- Bank of Ireland eyes hedge fund growth in Belfast
- Cerberus backed unit to launch in autumn in bid to target larger scheme liabilities
- UBP clients added SF8.6bln net new money in H1
- New Islamic bank formed in Bahrain, MSCI Barra launches global Islamic indices
- Asian Development Bank warns on unwinding of carry trade
- Jim Rogers cautiously bullish on China stocks, Chinese unconcerned about subprime, Is China`s economy overheating or not?
- Activist News: Stock borrowing suspicions in Fortis bid
- News Briefs: New Dubai property law could lead to more investments
- ...And finally:  Online feud out of control: Navy man climbed into his car and drove 1,300 miles from Virginia to Texas to teach the other guy a lesson
- Logon: http://www.opalesque.com/main.php?act=archive

 

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Misc. Items of Interest

 

NASA probes sabotage
July 26, 2007 08:04 PM ET
CAPE CANAVERAL, Florida (Reuters) - NASA is investigating sabotage
of a noncritical computer due to be flown to the International
Space Station aboard the space shuttle Endeavour, which was
cleared to lift off on August 7, the U.S. space agency said
on Thursday.
http://links.reuters.com/t/44QIB/LU6BN/GX/KZXSC?a1=nl_usmorningdigest

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Funnies, Facts, Quotes, etc….

 

ambuscade AM-buh-skayd; am-buh-SKAYD, noun:

1. An ambush.
2. To attack by surprise from a concealed place; to ambush.

 

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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)

HFRX Indices https://www.hedgefundresearch.com/hfrx_reg/index.php?fuse=login&1170880431

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Regulatory Info

 

 

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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.