Main News

 

 

Value Partners Plans $375 Million Offering
International Herald Tribune - Thursday November 08, 12:35 GMT

 

CLIPPED HEDGE FUND AQR PULLS OFFERING
 By RODDY BOYD and ZACHERY KOUWE
AQR Capital Management, the giant Greenwich-based hedge fund, has been forced to shelve its planned initial public offering after a dismal performance caused several large investors to pull their cash from the firm's $38 billion fund, The Post...
full story: http://www.nypost.com/seven/11082007/business/clipped_hedge_fund_aqr_pulls_offering_53450.htm

 

NEW TITANIC THREAT
 By PAUL THARP
More than $500 billion of potentially worthless paper is padding the balance sheets of the nation's top-10 banks - and could also be contaminating the huge pensions and annuities that support millions of Americans.  Grim new outlooks surfaced on...
full story: http://www.nypost.com/seven/11082007/business/new_titanic_threat_312296.htm

 

MORGAN'S $3.7B LOSS IN VALUE
 Bloomberg
Morgan Stanley, the second-biggest U.S. securities firm, said its subprime mortgages and related securities have lost $3.7 billion of their value.  The decline may cut fourth-quarter earnings by $2.5 billion, the New York-based firm said in an...
full story: http://www.nypost.com/seven/11082007/business/morgans_3_7b_loss_in_value_39871.htm

 

Asian HFs Get F-riskier
Institutional Investor - Thursday November 08, 09:49 GMT

 

Lambert's Toxic $1.3bn Bet
Deal Book - Thursday November 08, 08:33 GMT

 

UP AND DOWN WALL STREET DAILY  By RANDALL W. FORSYTH
Bundchen Buck Bashing: Right for Wrong Reasons
The Brazilian supermodel may eschew the weak dollar, but so far the U.S. has benefited from its decline. But for how long?
http://online.barrons.com/article/SB119438902037884428.html?mod=djemBF

 

Financial Institutions
For U.S. Financial Institutions In 2008, Fundamentals Matter More Than Ever
The abrupt about-face of the credit cycle in 2007 brought a spectacular end to the generally benign credit environment that financial institutions enjoyed for nearly a decade. The ongoing effects of the credit crunch underscore that--more than ever--sound fundamentals matter. But even while many financial institutions face serious loan and asset-quality pressure, our outlook for the U.S. sector in 2008 remains stable, largely because most of our rated financial institutions retain solid financial fundamentals.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQYWYYQTVsLgHxhilpuHQJhuV2VY

 

BONITA SPRINGS, Fla. (HedgeWorld.com)—What if investors could generate hedge fund returns, simply by leveraging up their portfolios? The idea sounds simplistic, and it fascinates some investors. ......

 

Palm oil warning for Indonesia *
Land clearances in Indonesia to cultivate palm oil threaten a "climate bomb", Greenpeace warns.
Full story:
http://news.bbc.co.uk/go/em/-/1/hi/world/asia-pacific/7084306.stm

 

GLOBAL - Mercer is preparing to launch a web-based capital market modelling tool that will allow pension fund clients to self-generate strategic asset allocations and construct theoretical portfolios.

 

In a national survey of chief financial officers and senior comptrollers conducted by Grant Thornton LLP, 62 percent believe it would be possible to intentionally misstate their financial statement to their auditor.

Full Story...

 

Despite market turbulence and weak third-quarter financial results on Wall Street, year-end incentive payouts are expected to be flat versus last year, although payments will vary significantly by business area, according to a compensation analysis released by Johnson Associates.

Full Story...

 

Hedge Fund Returns Not Just About Leverage
Hedgeworld (subscription) - New York,NY,USA
The quest for alpha is the Holy Grail of hedge fund investing. As the efforts to replicate hedge fund returns synthetically prove more complicated than ...
See all stories on this topic

 

Where have all the hedge funds gone? To renaissance
The Economic Times Tue, 06 Nov 2007 6:29 PM PST
The hedge-fund industry is grappling with its first shakeout in a decade as investors increasingly recoil from startups considered susceptible to the toxic shocks of this year’s credit markets.

 

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Yield Curve Corner

 

Bernanke predicts slower growth in the US
International Herald Tribune - France
By Edmund L. Andrews WASHINGTON: Ben Bernanke, chairman of the Federal Reserve, said Thursday that the US economy was likely to slow noticeably in the ...
See all stories on this topic

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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/FSHSsoutheast312_MO.jpg

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Iranian Situation

 

FBI Hoped to Follow Falafel Trail to Iranian Terrorists Here

 

Geopolitical Diary: The Recent Iranian Proposal for Iraq
http://www.stratfor.com/products/premium/read_article.php?id=297867

 

'This Pretty Much Kills the Iran Democracy Program'
BY ELI LAKE - Staff Reporter of the Sun
WASHINGTON — The former director of President Bush's flagship democracy program for the Middle East is saying that the State Department has "effectively killed" a program to disburse millions of dollars to Iran's liberal opposition. In an interview...

 

U.S.: Iran attack plans ready if needed
USA Today Thu, 08 Nov 2007 11:15 AM PST
U.S. defense officials have signaled that up-to-date attack plans are available if needed in the escalating crisis over Iran's nuclear aims, although no strike appears imminent.

 

Biden compares Pakistan to 1970s Iran
AP via Yahoo! News Thu, 08 Nov 2007 5:14 AM PST
Democratic presidential hopeful Joe Biden is comparing the unrest in Pakistan to 1970s Iran, when Americans were held hostage.

 

Bush and Sarkozy find common ground against Iran
Reuters via Yahoo! News Wed, 07 Nov 2007 6:19 PM PST
The U.S. and French presidents forged a common front against Iran's nuclear ambitions on Wednesday, signaling a further warming of once-chilly relations between Washington and Paris.

 

IRAN, LEBANON:  Interpol has put five Iranians and a Lebanese militant on its most-wanted list for a bombing at a Jewish center in Argentina in 1994 that killed 85 people, The Associated Press reported. The Iranians are former intelligence chief Ali Fallahian, former diplomat Ahmad Reza Asghari, former cultural attache at the Iranian Embassy in Buenos Aires Mohsen Rabbani, former Islamic Revolutionary Guard Corps (IRGC) leader Mohsen Rezaei and IRGC Gen. Ahmad Vahidi. The Lebanese militant on the list is Hezbollah member Imad Moughnieh. Interpol voted 76-14 to add the names to the most-wanted list; 26 members abstained, delegates said.

 

1215 GMT -- IRAN -- A consortium from Iran, Austria and Germany will construct a 407-mile-long railroad linking Iran's northeast city of Mashhad to Gorgan and Bojnurd, Press TV reported Nov. 8. The consortium will pay 85 percent of the cost, while Iran's Road and Transportation Ministry will pay the remainder.

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Opalesque’s Corner

 

- Editor's Note
- Opalesque Exclusive: NYSE`s former specialists form `intraday` ExSpecialistFund using algorithms, Former Bear trader to launch credit arbitrage hedge fund, CEC Capital set to launch new market-neutral fund
- Man Group profit rises on 11% gain in client assets,  UCITS funds permitted to invest in New Star`s hedge fund product,Two Select Gottex hedge funds reduce minimum investment, MFS profit climbs 90%, plans to double assets under management in less than a year, Sanders Morris reports higher revenues despite loss from new hedge fund
- Pioneer sees richer pickings for distressed debt hedge funds, though convenant-line loans will delay opportunities
- Cash as an attractive asset class, elements of a cash management strategy, Brunel Associates: Hedge fund returns not just about leverage,  More on TrimTabs research: Smaller HFs perform best
- 130/30 strategies are more than a fad, Turner Investment Partners position paper says,  Report: Global ETF assets rise 11%, Pyramis Global Advisors survey finds growing interest in alternatives, commitment from plan sponsors in Canada
- Indices: HFRI indices for October 07, EM up +5%, Macro up +4%, no negatives,  Eurekahedge Hedge Fund Indices for Oct 2007 up 3.5%, relative value up 6%, EM up 5%, Spectrem Millionaire Investor Index shows big improvement, Credit Suisse/Tremont launches highly diversified asset-weighted investable AllHedge Index
- 100 Women in Hedge Funds names iMentor beneficiary of 2007 New York Gala, many hedge fund legends to be honored with Effecting Change Award
- People: Matrix expands fund of hedge fund sales team due to increasing demand, Paladyne appoints new CFO
- Pensions: CalPERS to add long/short managers
- Bet on Citigroup hurts a Lampert`s RBS Partners, Citi, Merrill considering same 5 CEO candidates, Vikram Pandit`s Citi makeover: Investment head may merge stock, bond units, Citigroup`s additional writedowns of $11bln buried in 10Q filing with the SEC, Big Mack attack: John Mack on hot seat?,  SG Asset Management affected by three defunct CDOs, 19% drop in revenues, Banks face billions in writedowns from credit hit, RBS, Barclays could take GBP2 bln hit, KKR shed mortgage business, closed CLOs after 3Q loss
- Downgrade of bond insurers` credit ratings could hurt anyone owing debt,  Fitch may downgrade bond insurers
- Comment: Lessons from credit mess about the role of government, NYMellon`s Robert Kelly: Write-offs will help markets, Roger Ehrenberg: bottom line is bad governance, investors get bad information and that must stop, The new Meriwethers, writ large
- Politicians face choice between tax and hedge fund industry
- Legal News: Florida CTA fined $20m for fraud
- SEC head says looking at disclosure of banks,MAS warns consumers against unregulated firms,  U.S. financial group urges risk-based regulation,  Fund assessors get ready for growth
- Commodities: Opalesque Exclusive: Singapore-based ESC Financial Services prefers silver to gold, Gold as an inflation hedge
- Currencies: FX Concepts says dollar could be kept under pressure due to debt, but optimistic, Speculators short on dollar, cut back on short yen positions
- TABB Group: Electronically executed FX trading set to skyrocket by 2010, ICAP would buy MTS if up for sale: CEO
- Exchanges: Asian bourses need to link up to compete, U.S. exchanges explore carbon trading
- Climate change to severely impact drinking water, Warm winter forecasts may drive companies to weather futures
- U.K. parliament member says courts too helpful to vulture funds,  Will Deutschland AG battle with the giant locusts? Plans to introduce legislation to protect business from foreign takeover
- `Boomlet` in Asia`s private debt markets
- Great Southern launches diversified rural fund, Report names investors who lost in Basis collapse
- Activist News: Sovereign fund in Telstra boardroom - a new era of SW funds as investor activists? Kraft adds two board members approved by Peltz
- News Briefs: Toronto-based Ark Fund Management chooses RBC Dexia as investor services provider, Wall Street incentive awards to be flat in 2007, some to decline 10-15%, Apollo sold 9% of itself to Abu Dhabi Investment Authority, Conflicts of interest still a major compliance task, Forbes` list of America`s youngest and oldest billionaires, Norway Government pension fund to almost double to $600bln by 2010, Fitch on BDC third-party asset management: Highlighting the risks and rewards, TerraNua enters U.S. market with compliance management product, Morningstar develop method to bring transparency to mutual funds` derivatives exposure, ING 3Q net jumps 47%, limited subprime impact, Goldman researchers see Baltic coming off the boil, Sarkozy calls for strong dollar policy, Economic synergies and changing risk appetites are driving expanded Gulf investment into Asia, HSBC receives Islamic banking licence in Malaysia, Mitsubishi UFJ, Kim Eng forge asset management joint venture
- And Finally. Bathrooms should not be called `liberation zone`, China
- Logon: http://www.opalesque.com/main.php?act=archive

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Misc. Items of Interest

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Funnies, Facts, Quotes, etc….

 

ameliorate uh-MEEL-yuh-rayt, transitive verb:

1. To make better; to improve.
2. To grow better.

 

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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.