Archive: 01/23/2008
Main News
Dow Ends Below 12000
By Mark Glassman
The major indexes avoided a dramatic fall but still ended in the red after the Fed cut interest rates. http://www.smartmoney.com/t.cfm?pId=7&mID=352&mDt=01/22/2008&ui=1157312&ctu=%2Fbn%2Findex%2Ecfm%3Fstory%3D20080122012443
By Mark Glassman
The major indexes avoided a dramatic fall but still ended in the red after the Fed cut interest rates. http://www.smartmoney.com/t.cfm?pId=7&mID=352&mDt=01/22/2008&ui=1157312&ctu=%2Fbn%2Findex%2Ecfm%3Fstory%3D20080122012443
THE STRIKING PRICE DAILY By STEVEN M. SEARS
First Panic, Then Buy
The global sell off caused options volatility to spike - creating opportunities.
http://online.barrons.com/article/SB120097995604106115.html?mod=djemBF
First Panic, Then Buy
The global sell off caused options volatility to spike - creating opportunities.
http://online.barrons.com/article/SB120097995604106115.html?mod=djemBF
U.S. Weekly Financial Notes: Stimulating Recession
Retail sales fell 0.4% in December after a 1% increase in November. The December drop, although perhaps explained by the November strength and the bad December weather in much of the East, is troubling because it may indicate that consumers have finally reached the end of their rope. High gasoline prices, falling home prices, and the continual din of depressing economic and other news are hurting consumer sentiment. The sales by category also continue to show weakness in housing-related areas.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAUWUQTVsLgHxhilpuHQJhuV2VB
Retail sales fell 0.4% in December after a 1% increase in November. The December drop, although perhaps explained by the November strength and the bad December weather in much of the East, is troubling because it may indicate that consumers have finally reached the end of their rope. High gasoline prices, falling home prices, and the continual din of depressing economic and other news are hurting consumer sentiment. The sales by category also continue to show weakness in housing-related areas.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAUWUQTVsLgHxhilpuHQJhuV2VB
The Subprime Crisis
New York Times - United States
The subprime mortgage mess came about for many reasons. But a big part is missing from the media coverage, and it’s exactly the reason people took out ...
New York Times - United States
The subprime mortgage mess came about for many reasons. But a big part is missing from the media coverage, and it’s exactly the reason people took out ...
Hedge Funds Man Group, GLG Plan Increased Disclosure (Update2)
Source: Bloomberg
U.K. hedge-fund managers including Man Group Plc and GLG Partners plan to disclose more about the risks they take and the way they value assets, countering calls for greater regulation of the $1.87 trillion industry. More... <http://www.hedgefund-index.com/newstoday.asp>
Source: Bloomberg
U.K. hedge-fund managers including Man Group Plc and GLG Partners plan to disclose more about the risks they take and the way they value assets, countering calls for greater regulation of the $1.87 trillion industry. More... <http://www.hedgefund-index.com/newstoday.asp>
MFS Pressured by U.S. Hedge Fund to Sell Assets, Review Reports
Bloomberg.com Tue, 22 Jan 2008 2:21 PM PST
Jan. 23 (Bloomberg) -- MFS Ltd. is under pressure to sell assets as U.S. hedge fund Fortress Investment Group LLC demands repayment of a A$150 million ($130 million) loan, the Australian Financial Review reported, without citing anyone.
Bloomberg.com Tue, 22 Jan 2008 2:21 PM PST
Jan. 23 (Bloomberg) -- MFS Ltd. is under pressure to sell assets as U.S. hedge fund Fortress Investment Group LLC demands repayment of a A$150 million ($130 million) loan, the Australian Financial Review reported, without citing anyone.
2008 centre-stages alternatives, real returns and funding
http://www.ipe.com/news/2008_centre_stages_alternatives_real_returns_and_funding_26840.php
http://www.ipe.com/news/2008_centre_stages_alternatives_real_returns_and_funding_26840.php
Should firms take back their bonuses? (No, seriously)
Deal Book - Tuesday January 22, 07:06 GMT
Deal Book - Tuesday January 22, 07:06 GMT
New research from Greenwich Associates suggests that U.S. companies should be adjusting their investor relations strategies to respond to fundamental shifts in the composition and expectations of the U.S. equity buy side - namely the growing influence of hedge funds.
UBS will launch its UBS Greenhouse Index (UBS-GHI) on January 23. It is a tradable investment benchmark tracking a combination of weather futures and greenhouse gas emissions credits. Weather exposure is derived from Heating Degree Day and Cooling Degree Day futures contracts traded on the Chicago Mercantile Exchange (CME). Emissions exposure is provided by futures on carbon credits associated with the EU Emission Trading Scheme traded on the European Climate Exchange and the Kyoto Clean Development Mechanism traded on Nord Pool. When the index launches, it will be weighted 50% weather and 50% carbon; of which 40% is EU Allowances (EUA) credits and 10% Nord Pool Certified Emission Reductions (CER) credits.
UBS launches Greenhouse Index
UBS launches Greenhouse Index
Strategy | INVESTING IN SUSTAINABILITY: AN INTERVIEW WITH AL GORE AND DAVID BLOOD
The former vice president and his partner in an investment-management firm
argue that sustainability investing is essential to creating long-term
shareholder value.
http://e.mckinseyquarterly.com/W0RT011ACA7BE32CE4E1934C7D1570
The former vice president and his partner in an investment-management firm
argue that sustainability investing is essential to creating long-term
shareholder value.
http://e.mckinseyquarterly.com/W0RT011ACA7BE32CE4E1934C7D1570
Demography poses a fresh challenge to homeowners
The housing market has a new problem: ageing Americans ... more
The housing market has a new problem: ageing Americans ... more
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Yield Curve Corner
Bear Market Bernanke Strikes Again
HoweStreet.com - Vancouver,British Columbia,Canada
In what should have been an opportunity for Fed Chairman Ben Bernanke to spur a rally, the market didn’t cooperate. In his testimony to the House Budget
HoweStreet.com - Vancouver,British Columbia,Canada
In what should have been an opportunity for Fed Chairman Ben Bernanke to spur a rally, the market didn’t cooperate. In his testimony to the House Budget
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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:
North American weather roller-coaster still has months left to the ride......
A New Perspective on the Great Miami Hurricane of 1926
Miami Beach USA - Miami Beach,FL,USA
... a frightening experience it must have been to endure a Category 5 hurricane eighty years ago when there was no advanced warning of a storm’s intensity. ...
See all stories on this topic
Miami Beach USA - Miami Beach,FL,USA
... a frightening experience it must have been to endure a Category 5 hurricane eighty years ago when there was no advanced warning of a storm’s intensity. ...
See all stories on this topic
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Iranian Situation and Other Man Made Disasters
6 powers agree on draft Iran sanctions
AP via Yahoo! News Tue, 22 Jan 2008 12:05 PM PST
The U.N. Security Council's permanent members and Germany agreed Tuesday on a new draft resolution on sanctions against Iran, strengthening existing measures over the country's refusal to suspend its nuclear program, officials said.
AP via Yahoo! News Tue, 22 Jan 2008 12:05 PM PST
The U.N. Security Council's permanent members and Germany agreed Tuesday on a new draft resolution on sanctions against Iran, strengthening existing measures over the country's refusal to suspend its nuclear program, officials said.
New Iran action agreed, officials say
CNN.com Tue, 22 Jan 2008 11:38 AM PST
BERLIN, Germany (AP) -- The U.N. Security Council's permanent members and Germany agreed Tuesday on the contents of a new draft resolution on sanctions against Iran after talks on its nuclear program, the German foreign minister said.
CNN.com Tue, 22 Jan 2008 11:38 AM PST
BERLIN, Germany (AP) -- The U.N. Security Council's permanent members and Germany agreed Tuesday on the contents of a new draft resolution on sanctions against Iran after talks on its nuclear program, the German foreign minister said.
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Opalesque’s Corner
- Global Equities: Tumbling Asian shares led European stocks into their biggest one-day fall since 9/11, European shares fell by as much as 7%, pessimism gains upper hand, Asian markets plunge for the second day, trading in Indian shares was halted for an hour, `Indiscriminate` selling hits Australian market, Select`s CIO says people will look again at alternatives
- Credit Crunch Update: Banks reel from high cost of borrowing, normal pricing model has reversed amid billions in sub-prime writedowns, Pandit and Thain on the road to recovery: five-point plan,
Commentary: Every major U.S. bank was profitable last year, Fund manager PIMCO asks Fed to cut interest rates now, SocGen slides to 3 year low over writedowns, Bank of China to announce more subprime damage
- Performance: Half of New Star funds have underperformed their peers, Assets managed at PCE Investors exceeded US$ 1.4 billion across 15 fund strategies, Olympia Capital Management`s high conviction fund up 20.7%, flagship fund (17 yr track record) up 11.2%, $6bln total AUM
- Opalesque Exclusive: Japan hedge fund, up 6% vs. market slump of 12%, sees `a few old, wise contrarians` and value funds allocating to Japan, Pensions split Japan / Asia ex-Japan, but brokers see no outflows from Japan
- Fund launches: F&C launches systematic European long short trading hedge fund, Matrix launches FoHFs, to be managed by Maxam, Cru launches sub-Saharan Africa fund, Zurich-based Sustainable Asset Management to launch hedge fund, hires former pension fund head
- GLG Partners to subadvise climate change fund
- Update: Eton Park, Old Lane get India licenses through SEBI`s fast-track registrations
- Fitch affirmed Man Group at A- with stable outlook
- Distressed Debt Report: European market set to grow, crunch to reach commercial and residential real estate, hedge funds expected to move towards longer-horizon strategies in 2008
- Institutions: CalPERS hints that hedge funds might play a bigger role in the fund`s future
- Legal: Update: Protean launches hedge fund fraud risk product, Catlin agrees to back it, Subprime suits` next targets may be `conservative` mutual funds
- People: SEC commissioner Nazareth resigns, Commodities hedge fund hires equity researcher, Polar Capital strengthens hedge fund sales team, Atlas Capital Management sets up advisory board, Blackrock Asia promotes CEO
- Opalesque Exclusive: Leading Asian hedge fund manager builds European representative office
- Mandates: Nordic fund mandates for $60m `anti global warming` investments, Agricole broker Cheuvreux wins major SRI research award, Scandinavian pension fund issues EUR45m frontier emerging markets quest
- Environmental Trading News: India`s MCX exchange starts futures trading in carbon credits
- Speculators not to blame for energy prices, says CFTC head
- Northern Rock Update: UK Treasury eases way for private sale, UK confirms GBP30bl bond support for Rock, private bidder to be selected in next few weeks, Brussels set to pose awkward questions
- Robeco Group launches new multi-manager shop in Switzerland
- Bosnia a top pick among frontier markets in 2008
- Reuters enhances FX Prime brokerage for matching service
- New Indices: Launch of Traded Life Policy Fund Index shows underlying funds doubled in 2007, S&P creates arbitrage indexes
- Activist News: Activist manager Breeden wants fewer proxy battles this year, Atos Origin under hedge fund fire
- News Briefs: Venture capital investments up in 2007, Credit Suisse sets up full equity brokerage operations in Indonesia, Markit`s Portfolio Reconciliation Platform named Industry Platform of the Year, Gulf derivatives market could touch $300bl in 5 years
- ...And finally: Incredible 46% of Brits plan to retire before they reach 50. Ahem, same 46% do not even have a pension
- Logon: http://www.opalesque.com/main.php?act=archive
- Credit Crunch Update: Banks reel from high cost of borrowing, normal pricing model has reversed amid billions in sub-prime writedowns, Pandit and Thain on the road to recovery: five-point plan,
Commentary: Every major U.S. bank was profitable last year, Fund manager PIMCO asks Fed to cut interest rates now, SocGen slides to 3 year low over writedowns, Bank of China to announce more subprime damage
- Performance: Half of New Star funds have underperformed their peers, Assets managed at PCE Investors exceeded US$ 1.4 billion across 15 fund strategies, Olympia Capital Management`s high conviction fund up 20.7%, flagship fund (17 yr track record) up 11.2%, $6bln total AUM
- Opalesque Exclusive: Japan hedge fund, up 6% vs. market slump of 12%, sees `a few old, wise contrarians` and value funds allocating to Japan, Pensions split Japan / Asia ex-Japan, but brokers see no outflows from Japan
- Fund launches: F&C launches systematic European long short trading hedge fund, Matrix launches FoHFs, to be managed by Maxam, Cru launches sub-Saharan Africa fund, Zurich-based Sustainable Asset Management to launch hedge fund, hires former pension fund head
- GLG Partners to subadvise climate change fund
- Update: Eton Park, Old Lane get India licenses through SEBI`s fast-track registrations
- Fitch affirmed Man Group at A- with stable outlook
- Distressed Debt Report: European market set to grow, crunch to reach commercial and residential real estate, hedge funds expected to move towards longer-horizon strategies in 2008
- Institutions: CalPERS hints that hedge funds might play a bigger role in the fund`s future
- Legal: Update: Protean launches hedge fund fraud risk product, Catlin agrees to back it, Subprime suits` next targets may be `conservative` mutual funds
- People: SEC commissioner Nazareth resigns, Commodities hedge fund hires equity researcher, Polar Capital strengthens hedge fund sales team, Atlas Capital Management sets up advisory board, Blackrock Asia promotes CEO
- Opalesque Exclusive: Leading Asian hedge fund manager builds European representative office
- Mandates: Nordic fund mandates for $60m `anti global warming` investments, Agricole broker Cheuvreux wins major SRI research award, Scandinavian pension fund issues EUR45m frontier emerging markets quest
- Environmental Trading News: India`s MCX exchange starts futures trading in carbon credits
- Speculators not to blame for energy prices, says CFTC head
- Northern Rock Update: UK Treasury eases way for private sale, UK confirms GBP30bl bond support for Rock, private bidder to be selected in next few weeks, Brussels set to pose awkward questions
- Robeco Group launches new multi-manager shop in Switzerland
- Bosnia a top pick among frontier markets in 2008
- Reuters enhances FX Prime brokerage for matching service
- New Indices: Launch of Traded Life Policy Fund Index shows underlying funds doubled in 2007, S&P creates arbitrage indexes
- Activist News: Activist manager Breeden wants fewer proxy battles this year, Atos Origin under hedge fund fire
- News Briefs: Venture capital investments up in 2007, Credit Suisse sets up full equity brokerage operations in Indonesia, Markit`s Portfolio Reconciliation Platform named Industry Platform of the Year, Gulf derivatives market could touch $300bl in 5 years
- ...And finally: Incredible 46% of Brits plan to retire before they reach 50. Ahem, same 46% do not even have a pension
- Logon: http://www.opalesque.com/main.php?act=archive
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Misc. Items of Interest
Dogs, cats latest victims of subprime-mortgage mess
Chicago Tribune - United States
... according to RealtyTrac, an Irvine, Calif., company that tracks mortgage data. Illinois saw about 20000 homes in foreclosure in the third quarter, ...
Chicago Tribune - United States
... according to RealtyTrac, an Irvine, Calif., company that tracks mortgage data. Illinois saw about 20000 homes in foreclosure in the third quarter, ...
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Funnies, Facts, Quotes, etc….
permeate PUR-mee-ayt, transitive verb:
1. To spread or diffuse through.
2. To pass through the pores or openings of.
3. To spread through or penetrate something.
2. To pass through the pores or openings of.
3. To spread through or penetrate something.
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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
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