Archive: 12/19/2007
Main News
SUBPRIME SAVIOR
New York Post - New York,NY,USA
The former principal finance chief's advice is being sought as Merrill ponders an additional $5 billion to $6 billion write-down in its $21 billion CDO book ...
New York Post - New York,NY,USA
The former principal finance chief's advice is being sought as Merrill ponders an additional $5 billion to $6 billion write-down in its $21 billion CDO book ...
CIBC's outlook cut to negative on potential losses in hedged CDO ...
CNNMoney.com - USA
... concern over potential losses in the bank's 9.8 bln usd hedged book of collateralized debt obligations (CDOs) related to US subprime mortgages. ...
CNNMoney.com - USA
... concern over potential losses in the bank's 9.8 bln usd hedged book of collateralized debt obligations (CDOs) related to US subprime mortgages. ...
Fed Will Limit Penalties on Prepayment of Subprime Mortgages
Bloomberg - USA
... rate by a full percentage point since September, while the Bush administration negotiated a freeze of up to five years on some subprime mortgage rates. ...
Bloomberg - USA
... rate by a full percentage point since September, while the Bush administration negotiated a freeze of up to five years on some subprime mortgage rates. ...
As we enter 2008, many questions still remain in the mortgage industry. From a credit perspective, many wonder how severe the losses on sub-prime loans will ultimately be.
Rising borrowing costs, the risk of economic recession, and rapidly changing business landscapes confront corporate borrowers in the U.S. as they head into 2008.
Failed Basis vehicle likely to repay investors
Banks that lent to failed hedge fund Basis Yield Alpha, run by Australia's Basis Capital, are likely to get all their money back and there could be a payment to investors, the fund said. (Financial Times)
http://mail2.efnmail.co.uk/r/328997/MTk4MTI1OjE1OTYw/
Banks that lent to failed hedge fund Basis Yield Alpha, run by Australia's Basis Capital, are likely to get all their money back and there could be a payment to investors, the fund said. (Financial Times)
http://mail2.efnmail.co.uk/r/328997/MTk4MTI1OjE1OTYw/
HEARD ON THE STREET, by Kate Kelly
from The Wall Street Journal.
Bear Stearns chief Cayne and senior brass are expected to forgo bonuses this year, an acknowledgment of the most difficult period in Bear's history.
http://online.wsj.com/article/SB119802842426537771.html?mod=djemheard
from The Wall Street Journal.
Bear Stearns chief Cayne and senior brass are expected to forgo bonuses this year, an acknowledgment of the most difficult period in Bear's history.
http://online.wsj.com/article/SB119802842426537771.html?mod=djemheard
Britain, Germany, France to act on hedge funds
Source: Guardian Unlimited
The leaders of Germany, France and Britain will draw up new proposals on the self-regulation of hedge funds by spring next year, German Chancellor Angela Merkel told a magazine in an interview released on Tuesday. More... <http://www.hedgefund-index.com/newstoday.asp>
Source: Guardian Unlimited
The leaders of Germany, France and Britain will draw up new proposals on the self-regulation of hedge funds by spring next year, German Chancellor Angela Merkel told a magazine in an interview released on Tuesday. More... <http://www.hedgefund-index.com/newstoday.asp>
Distressed debt hedge funds to shine in 2008
Source: Reuters UK
A predicted golden age for distressed debt hedge funds has so far failed to materialise in spite of the global credit crisis, but 2008 should be their year. More... <http://www.hedgefund-index.com/newstoday.asp>
Source: Reuters UK
A predicted golden age for distressed debt hedge funds has so far failed to materialise in spite of the global credit crisis, but 2008 should be their year. More... <http://www.hedgefund-index.com/newstoday.asp>
European high-yield default risk limited in 08 -UBS
Source: Reuters
Around two-thirds of European high-yield companies in the Crossover index do not need to refinance in 2008, which should limit the risk of corporate defaults over the next year, UBS credit strategists said. More... <http://www.hedgefund-index.com/newshighyield.asp>
Source: Reuters
Around two-thirds of European high-yield companies in the Crossover index do not need to refinance in 2008, which should limit the risk of corporate defaults over the next year, UBS credit strategists said. More... <http://www.hedgefund-index.com/newshighyield.asp>
The End of the 'Belle Epoque' For Money Management:- Or Just the ...
Seeking Alpha - New York,NY,USA
Continues the report: Continued acceptance of the portable-alpha portfolio construction model will reshape the beta end of the industry, ...
See all stories on this topic
Seeking Alpha - New York,NY,USA
Continues the report: Continued acceptance of the portable-alpha portfolio construction model will reshape the beta end of the industry, ...
See all stories on this topic
Goldman Profit Rises 2% on Equities Trading, Beating Estimates. By Christine Harper. Dec. 18 (Bloomberg) -- Goldman Sachs Group Inc., the world's largest ...
www.bloomberg.com/apps/news?pid=20601087&sid=ajxxg11xXrWw&refer=home - 43 minutes ago - Similar pages - Note this
www.bloomberg.com/apps/news?pid=20601087&sid=ajxxg11xXrWw&refer=home - 43 minutes ago - Similar pages - Note this
China requires expertise more than finance to deal with problems – UPDATE
Golden Year for Goldman Wall Street firm again tops forecasts. Read More
Ailing Raptor hedge fund losing clients
International Herald Tribune Sun, 16 Dec 2007 11:23 PM PST
Raptor had about $8 billion in assets before the withdrawals of more than $1 billion. The fund dropped 3.1 percent in November.
International Herald Tribune Sun, 16 Dec 2007 11:23 PM PST
Raptor had about $8 billion in assets before the withdrawals of more than $1 billion. The fund dropped 3.1 percent in November.
US – The asset allocation of the US$250bn California Public Employees’ Retirement System (CalPERS) has been revamped.
TIME makes Blackstone IPO worst deal of '07
Globe and Mail - Canada
Bear Stearns took second place for trying to package off its CDO exposure as an IPO – that financing failed. The best deal, in the American magazine's view, ...
Globe and Mail - Canada
Bear Stearns took second place for trying to package off its CDO exposure as an IPO – that financing failed. The best deal, in the American magazine's view, ...
CFM Claws Back Losses
Financial Times - Tuesday December 18, 09:48 GMT
Financial Times - Tuesday December 18, 09:48 GMT
Louis Bacon Buys Forbes Ranch Louis Bacon has bought a massive Colorado ranch from the Forbes family. The price tag: $175 million. [more]
_________________________________________________________________________
Yield Curve Corner
Bush, Bernanke Fail to Allay Market Jitters
Smartmoney.com - USA
But you can tell they're not even trying because the Bush administration hasn't even taken up Ben Bernanke's sensible suggestion to raise the limit on the ...
Smartmoney.com - USA
But you can tell they're not even trying because the Bush administration hasn't even taken up Ben Bernanke's sensible suggestion to raise the limit on the ...
_________________________________________________________________________
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/STMusnortheast352_MO.jpg
_________________________________________________________________________
Iranian Situation and Other Man Made Disasters
Geopolitical Diary: The U.S.-Iranian Dance
http://www.stratfor.com/products/premium/read_article.php?id=300187
http://www.stratfor.com/products/premium/read_article.php?id=300187
Wife of missing American arrives in Iran
AFP via Yahoo! News Tue, 18 Dec 2007 12:27 PM PST
The wife of an ex-FBI agent who the United States says disappeared in Iran this year arrived in Tehran on Tuesday seeking to find information about her husband, an AFP correspondent reported.
AFP via Yahoo! News Tue, 18 Dec 2007 12:27 PM PST
The wife of an ex-FBI agent who the United States says disappeared in Iran this year arrived in Tehran on Tuesday seeking to find information about her husband, an AFP correspondent reported.
Iran sees Bushehr plant at full capacity in one year: official
AFP via Yahoo! News Tue, 18 Dec 2007 3:49 AM PST
Iran expects its first nuclear power plant will produce electricity at full capacity in around a year after passing a "critical stage" with the delivery of fuel from Russia, a top official said on Tuesday.
AFP via Yahoo! News Tue, 18 Dec 2007 3:49 AM PST
Iran expects its first nuclear power plant will produce electricity at full capacity in around a year after passing a "critical stage" with the delivery of fuel from Russia, a top official said on Tuesday.
Iran: Russia's Fuel Shipment to Bushehr
http://www.stratfor.com/products/premium/read_article.php?id=300148
http://www.stratfor.com/products/premium/read_article.php?id=300148
A Pentagon report will accuse Iran of continuing to funnel weapons and training personnel into Iraq, adding fuel to a heated debate among U.S. policy makers about whether Iran deserves any credit for the steep declines in Iraq's once-unrelenting violence.
http://online.wsj.com/article/SB119793315728935275.html?mod=djemalertNEWS
http://online.wsj.com/article/SB119793315728935275.html?mod=djemalertNEWS
_________________________________________________________________________
Opalesque’s Corner
- Goldman may break record with $10bln hedge fund, in-house fund created to keep talent, Portrait: Goldman`s elusive hedge-fund star
- Goldman Sachs launches first tradable index for longevity and mortality risks
- New launches: Canada`s GMP Capital plans to launch hedge fund, Guinness Asset Management plans alternative energy fund, WexTrust Cap readies offshore ABL hedge fund
- Performance: JWH gains (up to 10.18%) in four of its five programs last month, Danish L/S fund doubles in 3.5 years, French hedge fund says recouped all losses caused by Sentinel collapse
- Returns from Asian hedge funds significantly better than those from other regions, The 2007 Japan story: Financial investors flee and Japan managers bleed
- Indices: Barclay CTA Index up 0.73% in November, Credit Suisse/Tremont Hedge Fund Index down -1.21%, EDHEC Alternative Indexes: November performances of HF strategies were globally negative, with the exception of CTA Global (+0.45%) and Equity Market Neutral (+0.21%)
- Custom House surpasses $30bln in assets under administration, nearly 45% growth this year
- Best practice / Research: Opalesque Exclusive: For first time, Central Banks` Markets Committee releases details on monetary policy frameworks and market operations of 21 members, Research: How to avoid data overkill in research and still ensure quality decisions, White Paper examines facing financial institutions` vulnerability and best practices for liquidity risk management going forward
- People: Northwest A.M.`s George Philips promoted to RAB board, to run RAB`s Hong Kong office, Madison Realty Capital names Eric Scheffler Managing Director and General Counsel, Morgan Stanley picks Fidelity`s Ellyn McColgan to be President of Global Wealth Management
- Pensions: Calpers new asset mix equalizes U.S., international stocks, hikes private equity, real estate, to sell more than $20bln in stocks, bonds, 10% alternatives (up from 6%), Swiss pension scheme seeks hedge funds operating in SRI arena, Italy to start process opening pensions as 1993 directive found anachronistic, Australian pension funds may lead carbon investments
- Environment: Opalesque Exclusive: `Open Source` scientists carry out largest ever future modelling of portfolios for climate risk and reward, provide intelligence for investors: Forestry will be key, DEC chief predicts N.Y. CO2 trading by next year, Banks` next green step: Invest directly in projects to profit on emissions credits
- Commodities: Comment: Are commodities a bubble ready to burst?, Krom River Partners: wheat price rise reflects structural change in demand for agricultural commodities from emerging countries
- Legal News: Legal battle over complex CDOs: First came the bankers, now come the lawyers, Insider trading at failed Bear Stearns hedge funds?, Bear manager`s actions are subject of inquiry, Amaranth traders fight government charges over gas manipulations, Former HF manager David Dadante sentenced to 13 years in IPOF fraud
- Forecast: Morgan Stanley Asia chairman says US heading to recession, will impact Asia, Citi: Asia ex-Japan equities poised for correction, could fall back to levels last seen in 2003
- Tax Update: Business travellers making as few as four overnight visits to UK a month could find themselves tax-resident under new proposals
- Europe: BofE offers extra GBP10bln, ECB offers banks unlimited funds, Britain, Germany and France in credit crisis talks next month
- Australia`s Intech raises alternatives holding, warns of slow down in traditional assets
- Commentaries: How banking`s secret system broke down, The shadow banking system - and the world of financial engineering, Derivatives credit risk and credit ratings, BCG`s Investment Banking Performance Index fell by more than 100% in Q3 2007
- Wealth Management: UBS opens fifth private wealth management office for ultra high net worth clients in US, Butterfield Bank expands to London, Lombard Odier Darier Hentsch to open Singapore branch
- News Briefs: Weak dollar restores health to wide range of exporters, Hedge funds are biggest donors on Wall Street, ECX carbon exchange caught in crossfire, SRM Global Master Fund lifts Northern Rock stake to 9.29%, UK government extends guarantees for Northern Rock, DFSA licences Toscafund Global Limited and Wedge Alternatives Limited as authorised firms, Nomura denies bid for Collins Stewart, Australian shopping mall owner Centro latest subprime victim
- ...And finally: New species discovered in Indonesia now include a giant rat that scientists say is actually as big as the ones New Yorkers swear they see in their apartments
- Logon: http://www.opalesque.com/main.php?act=archive
- Goldman Sachs launches first tradable index for longevity and mortality risks
- New launches: Canada`s GMP Capital plans to launch hedge fund, Guinness Asset Management plans alternative energy fund, WexTrust Cap readies offshore ABL hedge fund
- Performance: JWH gains (up to 10.18%) in four of its five programs last month, Danish L/S fund doubles in 3.5 years, French hedge fund says recouped all losses caused by Sentinel collapse
- Returns from Asian hedge funds significantly better than those from other regions, The 2007 Japan story: Financial investors flee and Japan managers bleed
- Indices: Barclay CTA Index up 0.73% in November, Credit Suisse/Tremont Hedge Fund Index down -1.21%, EDHEC Alternative Indexes: November performances of HF strategies were globally negative, with the exception of CTA Global (+0.45%) and Equity Market Neutral (+0.21%)
- Custom House surpasses $30bln in assets under administration, nearly 45% growth this year
- Best practice / Research: Opalesque Exclusive: For first time, Central Banks` Markets Committee releases details on monetary policy frameworks and market operations of 21 members, Research: How to avoid data overkill in research and still ensure quality decisions, White Paper examines facing financial institutions` vulnerability and best practices for liquidity risk management going forward
- People: Northwest A.M.`s George Philips promoted to RAB board, to run RAB`s Hong Kong office, Madison Realty Capital names Eric Scheffler Managing Director and General Counsel, Morgan Stanley picks Fidelity`s Ellyn McColgan to be President of Global Wealth Management
- Pensions: Calpers new asset mix equalizes U.S., international stocks, hikes private equity, real estate, to sell more than $20bln in stocks, bonds, 10% alternatives (up from 6%), Swiss pension scheme seeks hedge funds operating in SRI arena, Italy to start process opening pensions as 1993 directive found anachronistic, Australian pension funds may lead carbon investments
- Environment: Opalesque Exclusive: `Open Source` scientists carry out largest ever future modelling of portfolios for climate risk and reward, provide intelligence for investors: Forestry will be key, DEC chief predicts N.Y. CO2 trading by next year, Banks` next green step: Invest directly in projects to profit on emissions credits
- Commodities: Comment: Are commodities a bubble ready to burst?, Krom River Partners: wheat price rise reflects structural change in demand for agricultural commodities from emerging countries
- Legal News: Legal battle over complex CDOs: First came the bankers, now come the lawyers, Insider trading at failed Bear Stearns hedge funds?, Bear manager`s actions are subject of inquiry, Amaranth traders fight government charges over gas manipulations, Former HF manager David Dadante sentenced to 13 years in IPOF fraud
- Forecast: Morgan Stanley Asia chairman says US heading to recession, will impact Asia, Citi: Asia ex-Japan equities poised for correction, could fall back to levels last seen in 2003
- Tax Update: Business travellers making as few as four overnight visits to UK a month could find themselves tax-resident under new proposals
- Europe: BofE offers extra GBP10bln, ECB offers banks unlimited funds, Britain, Germany and France in credit crisis talks next month
- Australia`s Intech raises alternatives holding, warns of slow down in traditional assets
- Commentaries: How banking`s secret system broke down, The shadow banking system - and the world of financial engineering, Derivatives credit risk and credit ratings, BCG`s Investment Banking Performance Index fell by more than 100% in Q3 2007
- Wealth Management: UBS opens fifth private wealth management office for ultra high net worth clients in US, Butterfield Bank expands to London, Lombard Odier Darier Hentsch to open Singapore branch
- News Briefs: Weak dollar restores health to wide range of exporters, Hedge funds are biggest donors on Wall Street, ECX carbon exchange caught in crossfire, SRM Global Master Fund lifts Northern Rock stake to 9.29%, UK government extends guarantees for Northern Rock, DFSA licences Toscafund Global Limited and Wedge Alternatives Limited as authorised firms, Nomura denies bid for Collins Stewart, Australian shopping mall owner Centro latest subprime victim
- ...And finally: New species discovered in Indonesia now include a giant rat that scientists say is actually as big as the ones New Yorkers swear they see in their apartments
- Logon: http://www.opalesque.com/main.php?act=archive
_________________________________________________________________________
Misc. Items of Interest
_____________________________________________________________________
Funnies, Facts, Quotes, etc….
pari passu PAIR-ee-PASS-oo; PAIR-ih-PASS-oo, adverb:
At an equal pace or rate.
_________________________________________________________________________
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:
_________________________________________________________________________
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)
_________________________________________________________________________
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
_________________________________________________________________________
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.
|
| Manage your subscription |