Main News

 

 

A Lurid Aftermath to a Hedge Fund Manager?s Fast Life
New York Times Mon, 03 Dec 2007 6:48 PM PST
The unfolding drama over Seth Tobias?s estate is providing a racy account of fast money and faster living in the volatile world of hedge funds.

 

Florida Pension Fund Has `Suspect' Debt Held by Pool (Update2) ... Florida's pension fund holds $93 million of debt issued by Ottimo Funding, ...
www.bloomberg.com/apps/news?pid=20601087&sid=aEWz6lIRbqE4&refer=home -

 

Paulson Goes to Washington, Loses Way: Caroline Baum (Correct)
Bloomberg - USA
The lender -- in this case, the owner of a CDO tranche -- has been replaced by a Cayman Islands hedge fund, a Florida municipality or a German bank. ...

 

US Senator Dodd Asks Paulson to Address Goldman Subprime Role. By Christine Harper. Dec. 4 (Bloomberg) -- US Senate Banking Committee chairman Christopher ...
www.bloomberg.com/apps/news?pid=20601087&sid=aX1RdOcyY5LM&refer=home -

 

UK market data vendor Markit has agreed in principle to acquire SwapsWire, the dealer-backed electronic trade confirmation network for OTC derivatives processing. Financial terms of the deal were not disclosed.
More on this story: http://www.finextra.com/fullstory.asp?id=17820

 

THE WORLD'S NEW FINANCIAL POWER BROKERS
Even if interest rates rise and oil prices fall, the petroleum-exporting
countries, Asia's central banks, hedge funds, and private-equity firms will
continue to grow in wealth and importance. Their impact on the capital markets
disturbs some investors and policy makers, but "The world's new financial power
brokers" argues that the benefits of liquidity, new ideas, and diversification
outweigh the dangers.
http://e.mckinseyquarterly.com/WBRT0175738B632CE4E1937EFD2E90

 

Subprime Seizure Solution May Be in Hospital Bills (Update1)
Source: Bloomberg
The solution for the subprime-infected credit market seizure that wiped out $66 billion of securities industry capital this year may be found in a bunch of hospital bills.
Day trader Richard Field in Needham, Massachusetts, says his patent for tracking medical invoices can be adapted for mortgage interest payments, helping banks better value securities derived from home loans and other receivables. From its headquarters in New York, accounting firm Deloitte & Touche LLP says it's developing computer models that will do the same. More... <http://www.hedgefund-index.com/newsmortgagebs.asp>

 

Japan's pension funds yield good news for hedge funds
Source: FT Alphaville
Some interesting findings on the latest patterns in Japanese institutional investing come from Greenwich Associates, to be published in its forthcoming annual Japanese investment management research study. More... <http://www.hedgefund-index.com/newstoday.asp>

 

No hedging on social conscience
Source: The Australian
Recently, several fund-of-funds -- hedge funds that invest in other hedge funds -- have sprung up to cater to the market for investments adhering to environmental, social and corporate governance standards. More... <http://www.hedgefund-index.com/newstoday.asp>

 

Economic Studies | SERVING AGING BABY BOOMERS
US baby boomers have rewritten the rules at every stage of their lives--and will
rewrite the rules of retirement too. Businesses that help will be rewarded.
[Audio included] (Premium)
http://e.mckinseyquarterly.com/WBRT0175731B332CE4E1937EFD2E90

 

Education no substitute for good default - Harvard academic
http://www.ipe.com/news/Education_no_substitute_for_good_default_Harvard_academic_26324.php

 

Credit Suisse to Launch Product That Mimics Hedge Fund Returns
Bloomberg - USA
5 (Bloomberg) -- Credit Suisse Group plans to launch a product to replicate hedge fund performance with more liquid securities by the first half of 2008, ...

 

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Yield Curve Corner

 

The following is a speech by Federal Reserve Chairman Ben Bernanke at the presentation of the Citizen of the Carolinas Award, before the Charlotte Chamber of Commerce in North Carolina.

Full Story...

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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/SNWplains338_MO.jpg

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Iranian Situation and Other Man Made Disasters

 

A Blow to Bush's Tehran Policy
President Bush got the world's attention this fall when he warned that a nuclear-armed Iran might lead to World War III. But his stark warning came at least a month or two after he had first been told about fresh indications that Iran had actually halted its nuclear weapons program.
(By Peter Baker and Robin Wright, The Washington Post)

 

Was Bush Behind the New Iran Report?
Time Magazine Tue, 04 Dec 2007 11:19 AM PST
The latest NIE is a blow to the hawks. Robert Baer says it shows Bush regards attacking Iran as a bridge too far

 

Iran nuclear threat 'serious': Downing Street
AFP via Yahoo! News Tue, 04 Dec 2007 8:12 AM PST
Iran's nuclear programme poses a "serious" security threat, Prime Minister Gordon Brown's spokesman said Tuesday, a day after a US intelligence report downplaying the risk

 

U.S.-Iran: Talks Making Progress
 http://www.stratfor.com/products/premium/read_article.php?id=299394

 

Russia: Iran's New -- and Worrisome -- Consulate
 http://www.stratfor.com/products/premium/read_article.php?id=299424

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Opalesque’s Corner

 

- Credit Suisse to launch hedge fund replication product in 2008
- Performance: Everest, MKP, Harbinger, Horseman: Some big hedge funds surge with market upheavals, Moore Capital`s Canadian hedge fund unit lost 15% last month
- HFR: November not as bad as August 2007, Och-Ziff fund down only 0.3%
- ABN Amro throws lifeline to Absolute Capital staff, business may be sold to ABN
- New Launches: Louis Dreyfus Highbridge plans commodity hedge fund, BNY Mellon`s EACM to develop fund of hedge funds for InverCaixa
- Opalesque Exclusive: GAIM Invest 2007, Day 1 - On new ideas in the alternatives arena, Horlick`s Bramdean Asset Management shifts to alternatives:  Pension should allocate up to 50% to alternatives excluding property, political resistance to globalisation and what investors (really) want
- Forecast: Man Investments optimistic in outlook report for 2008, US economy could trouble markets but present opportunities for hedge funds, relative value, event driven and managed futures likely do to well
- HF Administrators Survey: Administered hedge fund assets pass $2.5trl in Q3 2007, Citco top administrator with $436bln assets
- Book on FoFs: Chris Jones, CIO of Key Asset Management, publishes book on investing in hedge funds through FoFs
- Subprime seizure solution may be in hospital bills:  Deloitte & Touche, trader`s  patent for tracking medical invoices to be adapted for mortgage interest payments valuations
- Will Greenlight`s Einhorn be right and Lehman announce future writedowns?
- Credit Crunch Update: New York subpoenas Wall Street on packaging and selling of debt tied to high-risk mortgages,  UK: Banks say some buyers of complex debt lacked knowledge, Derivative Fitch to closely monitor risk, sees increasing likelihood of CDO event of defaults
- Comment: Goldman`s risk control offers right example of governance, Credit markets in poor state, US Treasury should put $20bln in superfund, says Legg Mason chief , FT comment: Lessons of the credit crisis are not just for regulators, regulation alone is not the answer
- Best Practice: Recap of key trends in best practices, conference report
- Legal News: Ex-Morgan Stanley analyst, former ING hedge fund analyst husband get 18 months for insider trading,  MF Global in $75m settlement of Philadelphia Alternative Asset hedge fund lawsuit, Merrill Lynch sued over CDOs & hedge fund deals
- Exchanges: Qatar pulls OMX aspirations to focus on LSE stake, EUREX Release 10 launched with wealth of advanced trading, risk management and data improvements specially for high frequency traders,  flexible OTC-trading offers customization of futures
- Pensions: Survey: 22% of German institutions set to increase hedge fund allocations, quickest to adopt new investment ideas, European pensions now have 1.6% in hedge funds, average funding ratio of European pension plans increased to 118% in 2007, UK pensions keep hedge fund allocations flat at 1.1%, Majority of Japanese institutions to increase
- Investors seek safety in cash and position for expected US rate cut, EM funds see big outflows,  Financial sector funds attracted over $1bln fresh money
- Schroders bullish on Middle East stock markets
- Update: Jockey Club adopts portable alpha strategy
- Activist News: TCI presses J-Power over investor returns, HF creates own distributorship to promote soft drinks
- News Briefs: Deutsche Bank chief Ackerman turns down Citigroup, Lehman buys Van der Moolen U.S. NYSE assets, Hermes interim CEO to stay on permanently, China may overtake South Africa as world's top gold producer,
- ...And finally: Mafia boss arrested while watching Mafia TV show about arrest of a Mafia boss
- Logon: http://www.opalesque.com/main.php?act=archive

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Misc. Items of Interest

 

Corporate governance: who is guarding the guardians
Financial News Online US - London,UK
The forthcoming stock market listing of RiskMetrics Group, a US portfolio risk analysis provider, has raised issues over the ownership and influence of ...

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Funnies, Facts, Quotes, etc….

 

profuse pruh-FYOOS; proh-, adjective:

1. Pouring forth with fullness or exuberance; giving or given liberally and abundantly; extravagant.
2. Exhibiting great abundance; plentiful; copious; bountiful.

 

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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.