Archive: 02/07/2008
Main News
Snow sinks solar stocks. LDK solar (LDK) lowered its 2008 earnings forecast due to bad weather in China that has impacted operations. LDK sees Q1 EPS of $0.39-0.44, vs. consensus estimates of $0.39; Q1 revenue of $195M-$210M vs. consensus of $221.79M; full-year revenue of $960M-$1B vs. consensus of $1.05B; and 2008 wafer shipments of 510MW-530MW. Shares were down 7% in late-afternoon trading. Other solar stocks hit included ESLR (-9.5%), SOLF (-11.8%) and STP (-9.4%)
Kerviel: 'I will not be made a scapegoat'
Feb 05 2008 19:23
In his first public comments since the scandal broke, Jérôme Kerviel, the trader accused of fake transactions costing Société Générale billions of euros, insisted he would not be used as a 'scapegoat' Read more »
Feb 05 2008 19:23
In his first public comments since the scandal broke, Jérôme Kerviel, the trader accused of fake transactions costing Société Générale billions of euros, insisted he would not be used as a 'scapegoat' Read more »
Worst HF Start In Eight Years
Additional results for January are trickling in, and they all tell the same story: Returns for 2008 so far are the worst in eight years.Read more
Additional results for January are trickling in, and they all tell the same story: Returns for 2008 so far are the worst in eight years.Read more
by Tim Iacono
Wood's SRM Global Fell 30?n January, Adding to 2007 Losses
MBIA Offering $750 Million in Stock: Financial News - Yahoo! Finance
http://biz.yahoo.com/ap/080206/mbia_stock_offer.html?.v=1
HEDGE FUNDS: Clarium Surges On Recent Bets Against Leveraged Companies
Nasdaq Wed, 06 Feb 2008 1:53 PM PST
SAN FRANCISCO (Dow Jones) -- Clarium LP, a $4 billion hedge fund run by PayPal co-founder Peter Thiel, surged 24.4% in January as bets against leveraged U.S. companies and the dollar paid off, according to an update that the firm sent to investors recently.
Nasdaq Wed, 06 Feb 2008 1:53 PM PST
SAN FRANCISCO (Dow Jones) -- Clarium LP, a $4 billion hedge fund run by PayPal co-founder Peter Thiel, surged 24.4% in January as bets against leveraged U.S. companies and the dollar paid off, according to an update that the firm sent to investors recently.
PRICE DAILY
A Bigger Range for the VIX
More uncertainty has led to a new trading range for CBOE SPX Volatility Index.
http://online.barrons.com/article/SB120224634720945161.html?mod=djemBF
A Bigger Range for the VIX
More uncertainty has led to a new trading range for CBOE SPX Volatility Index.
http://online.barrons.com/article/SB120224634720945161.html?mod=djemBF
Asset-Backed Commercial Paper
Credit FAQ: Impact Of Bond Insurer Ratings On ABCP Ratings
Standard & Poor's recent rating actions on bond insurers have prompted investor inquiries about asset-backed commercial paper (ABCP) conduits' exposure to these bond insurers. This report provides some answers to investors' frequently asked questions. Topics include bond insurers' roles in supporting ABCP and the links between ratings on bond insurers and ABCP conduits.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAYYRQTVsLgHxhilpuHQJhuV2VA
Credit FAQ: Impact Of Bond Insurer Ratings On ABCP Ratings
Standard & Poor's recent rating actions on bond insurers have prompted investor inquiries about asset-backed commercial paper (ABCP) conduits' exposure to these bond insurers. This report provides some answers to investors' frequently asked questions. Topics include bond insurers' roles in supporting ABCP and the links between ratings on bond insurers and ABCP conduits.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAYYRQTVsLgHxhilpuHQJhuV2VA
New rules could prohibit agencies such as Moodys Investors Services and Standard & Poor's from rating structured notes, securities that package asset- and mortgage-backed debt.
Housing Market Tracker - Sell Your Yacht to Buy Subprime
Seeking Alpha - New York,NY,USA
5th) Subprime Lender Accredited Plans Comeback. "Founder Jim Konrath: Accredited Home Lenders, a top subprime mortgage loan company in 2007 whose risky ...
Seeking Alpha - New York,NY,USA
5th) Subprime Lender Accredited Plans Comeback. "Founder Jim Konrath: Accredited Home Lenders, a top subprime mortgage loan company in 2007 whose risky ...
Where Was The SEC
Forbes - NY,USA
Investment banks, mortgage brokers and ratings agencies are all being blamed for the subprime mortgage bubble and its sudden and stunning demise. ...
Forbes - NY,USA
Investment banks, mortgage brokers and ratings agencies are all being blamed for the subprime mortgage bubble and its sudden and stunning demise. ...
Papers Show Wachovia Knew of Thefts
New York Times - Wednesday February 06, 09:46 GMT
New York Times - Wednesday February 06, 09:46 GMT
INTERVIEW German concern over hedge funds has 'cooled' but not ...
Thomson Investment Management News (subscription) - London,UK
LONDON (Thomson IM) - German political opposition to hedge funds taking positions in home-grown firms has 'cooled down a bit' in the wake of both the ...
Thomson Investment Management News (subscription) - London,UK
LONDON (Thomson IM) - German political opposition to hedge funds taking positions in home-grown firms has 'cooled down a bit' in the wake of both the ...
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Yield Curve Corner
Sen. Dodd to meet with Bernanke on US economy
Reuters - USA
WASHINGTON, Feb 5 (Reuters) - US Senate Banking Committee Chairman Chris Dodd will meet privately with Federal Reserve Chairman Ben Bernanke on Wednesday to ...
Reuters - USA
WASHINGTON, Feb 5 (Reuters) - US Senate Banking Committee Chairman Chris Dodd will meet privately with Federal Reserve Chairman Ben Bernanke on Wednesday to ...
Will We Need the 1% Solution?
The Weekly Standard - USA
Chairman Ben Bernanke, who on Friday reached the half-way point in his four-year term, is surely hoping that by the time he is up for reappointment, ...
The Weekly Standard - USA
Chairman Ben Bernanke, who on Friday reached the half-way point in his four-year term, is surely hoping that by the time he is up for reappointment, ...
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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/VSHtungurahua037_G10.jpg
Dozens Of Tornadoes Leave 50 Dead
Severe weather across the South has led to 50 deaths.
MORE DETAILS: <http://www.wnbc.com/tu/5vpYv0QUT.html>
Severe weather across the South has led to 50 deaths.
MORE DETAILS: <http://www.wnbc.com/tu/5vpYv0QUT.html>
On schedule, the Upper-Midwest will now embark on a 10-Day stretch very similar to the previous 10 Days, exemplified by Chicago contending with another significant snowstorm and several max temperatures failing to get above the freezing mark (including a potential single-digit max).
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Iranian Situation and Other Man Made Disasters
U.S. money for Russia is linked to Iran nuclear plant
International Herald Tribune Wed, 06 Feb 2008 11:57 AM PST
The U.S. Energy Department is subsidizing two Russian nuclear institutes that are building key parts of a reactor in Iran that the United States spent years trying to stop, according to a House committee.
International Herald Tribune Wed, 06 Feb 2008 11:57 AM PST
The U.S. Energy Department is subsidizing two Russian nuclear institutes that are building key parts of a reactor in Iran that the United States spent years trying to stop, according to a House committee.
Iran reformists sharply lower election hopes
AFP via Yahoo! News Wed, 06 Feb 2008 11:02 AM PST
Iran's disgruntled reformists have drastically scaled down their expectations for parliamentary elections next month after the authorities disqualified half their candidates, the press reported Wednesday.
AFP via Yahoo! News Wed, 06 Feb 2008 11:02 AM PST
Iran's disgruntled reformists have drastically scaled down their expectations for parliamentary elections next month after the authorities disqualified half their candidates, the press reported Wednesday.
U.S. Spy Chief Retreats on Iran Estimate
BY ELI LAKE - Staff Reporter of the Sun
WASHINGTON — The director of national intelligence is backing away from his agency's assessment late last year that Iran had halted its nuclear program, saying he wishes he had written the unclassified version of the document in a different manner....
BY ELI LAKE - Staff Reporter of the Sun
WASHINGTON — The director of national intelligence is backing away from his agency's assessment late last year that Iran had halted its nuclear program, saying he wishes he had written the unclassified version of the document in a different manner....
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Opalesque’s Corner
- CalPERS invests $350m in emerging managers, includes $150m to first FoFs
- Greenwich $2.7bln L/S hedge fund opens investment research office in Hong Kong
- Fund launches: Former Merrill executive`s hedge fund to launch in April, New York based Pergamene Capital prepares Latin American 120/20 equity fund, Canadian firms launch hedge fund incubator, Trading specialist Martello launches resources FoFs
- Performance: Opalesque Exclusive: Alpha Titans FoF holds up in January (-0.25%) as `premier multi-strategy` hedge funds demonstrate alpha and exhibited superior risk management, adds Tudor, Farallon and Tewksbury, New York structured credit HF losses 40%, `things are going to get a lot worse before they get worse`, Managed futures firm Xanthos pulls plug on quant funds
- Opalesque Exclusive: Global Select Portfolio Corp. implements new management for the Alternative Energy Fund, GLG Partners take steps to improve its reputation and to increase AUM significantly
- Outlook: Optima chief global strategist predicts volatile 2008 and sharp reversal, Marc Faber predicts the End of the Financial World - again, whole world is bubbling
- Niche Investing: London investors join rush for rural land, BlackRock`s agricultural HF to invest in British farmland, Comment: Fed`s interest rate cuts could boost hedge fund investment in tax liens
- New Indices: Opalesque Exclusives: New HFRI indices classifications to start with January performance, Deutsche Bank launches commodity Harvest Index
- Special Report gives hedge fund managers advance intelligence on impact of Feb. 15 Rule 144 change, billions of unregistered shares to become saleable
- Events: IAFE NY event: Rogue Traders - Those who don`t learn from history are forced to repeat it, 35 hedge fund, private equity leaders to join Habitat for Humanity: PE/HF guys to exchange their briefcases and BlackBerries for tool belts, hammers and circular saws
- Credit Crunch Update: Fitch proposes new rating methodology for corporate CDOs, CDO market is almost frozen, JPMorgan and Merrill Lynch say, Fitch may cut MBIA`s AAA Rating, reviews industry as losses mount, If bond insurers get lower credit ratings, financials could face downgrade too and as much as $70bln in new write-downs, Financial Guaranty Insurance Co in rescue bid, Subprime investments impact life insurers too, Comment: The credit crunch may at last be starting
- Comment: Credit default swaps: How supposed risk hedgers could become risk creators
- SocGen Update: Bank of France`s Noyer confused by SocGen scandal, Kerviel admits he `got a bit carried away`, SocGen to discuss rescue funding, has lined up Merrill Lynch to advise on defense against takeover
- Institutions: Goldman Sachs loses $1.2bln Massachusetts pension fund contract after management changes
- People: Robeco names new head of Middle East region, Citi trio moves to ICAP to set up new cash-equities division, Hedge fund administrator Conifer taps UBS exec, Gunning named global CIO at Russell
- Legal: Ritchie Capital founder pay $40m to end late trading probe, SEC settles $24m insider trading case against four Hong Kong residents including David Li Kwok Po, former Board Member of Dow Jones
- Regulatory: Bill sitting in House Ways and Means Committee would create commission to study hedge fund and PE industries, SEC mulls hedge fund minimums, New SEC office to oversee payments to injured investors
- Exchanges: US Department of Justice calls to split clearing houses from exchanges, Japanese investors increasingly trading electronically
- Commodities: Opalesque Exclusive: French FoHFs manager still believes in the energy sector, will double allocation to agriculture, McKinsey Quarterly reports on the new role of oil wealth in the world economy
- SRI Investing: Study: UK SRI funds heavily exposed to `mainstream` stocks including energy
- Tech Update: Cogency releases Version 3.2 of FoF Insight, says to cover `operational lifecycle of a fund of funds`, Paladyne and SunGard announce strategic partnership to provide fully-hosted solution for hedge fund back-office accounting
- Europe: Comment: European banking system in trouble, ECB may have to cut interest rates
- Middle-East: StanChart sees strong growth potential for Islamic derivatives used for hedging, Gulf economies are becoming asset-driven, more finance than oil: Reserves to reach $455 bln by 2008
- Asia: Comment: Shrinking Japan HF assets pummel broker stocks
- Emerging markets can withstand US slowdown says F&C`s Jeff Chowdhry
- ABN Amro Update: RBS to compete directly with Fortis for ABN Amro`s Dutch business clients, Fortis transfers ABN Amro funds from International Asset Management to Cadogan
- Activist News: Highland raises stake in Loral Space, Perry steps up demand for NEC data, Comment: Activist investors are still a long way from forcing any change at Generali
- News Briefs: Icahn set to start a blog on corporate abuses, US service sector stocks dropped to recession levels, EU treaty ratification signals opportunity for hedge funds, private equity - MEP, LatAm sovereign debt supply seen drying up, S&P says
- And Finally. Chinese astrologers offer Year of the Rat stock tips
- Logon: http://www.opalesque.com/main.php?act=archive
- Greenwich $2.7bln L/S hedge fund opens investment research office in Hong Kong
- Fund launches: Former Merrill executive`s hedge fund to launch in April, New York based Pergamene Capital prepares Latin American 120/20 equity fund, Canadian firms launch hedge fund incubator, Trading specialist Martello launches resources FoFs
- Performance: Opalesque Exclusive: Alpha Titans FoF holds up in January (-0.25%) as `premier multi-strategy` hedge funds demonstrate alpha and exhibited superior risk management, adds Tudor, Farallon and Tewksbury, New York structured credit HF losses 40%, `things are going to get a lot worse before they get worse`, Managed futures firm Xanthos pulls plug on quant funds
- Opalesque Exclusive: Global Select Portfolio Corp. implements new management for the Alternative Energy Fund, GLG Partners take steps to improve its reputation and to increase AUM significantly
- Outlook: Optima chief global strategist predicts volatile 2008 and sharp reversal, Marc Faber predicts the End of the Financial World - again, whole world is bubbling
- Niche Investing: London investors join rush for rural land, BlackRock`s agricultural HF to invest in British farmland, Comment: Fed`s interest rate cuts could boost hedge fund investment in tax liens
- New Indices: Opalesque Exclusives: New HFRI indices classifications to start with January performance, Deutsche Bank launches commodity Harvest Index
- Special Report gives hedge fund managers advance intelligence on impact of Feb. 15 Rule 144 change, billions of unregistered shares to become saleable
- Events: IAFE NY event: Rogue Traders - Those who don`t learn from history are forced to repeat it, 35 hedge fund, private equity leaders to join Habitat for Humanity: PE/HF guys to exchange their briefcases and BlackBerries for tool belts, hammers and circular saws
- Credit Crunch Update: Fitch proposes new rating methodology for corporate CDOs, CDO market is almost frozen, JPMorgan and Merrill Lynch say, Fitch may cut MBIA`s AAA Rating, reviews industry as losses mount, If bond insurers get lower credit ratings, financials could face downgrade too and as much as $70bln in new write-downs, Financial Guaranty Insurance Co in rescue bid, Subprime investments impact life insurers too, Comment: The credit crunch may at last be starting
- Comment: Credit default swaps: How supposed risk hedgers could become risk creators
- SocGen Update: Bank of France`s Noyer confused by SocGen scandal, Kerviel admits he `got a bit carried away`, SocGen to discuss rescue funding, has lined up Merrill Lynch to advise on defense against takeover
- Institutions: Goldman Sachs loses $1.2bln Massachusetts pension fund contract after management changes
- People: Robeco names new head of Middle East region, Citi trio moves to ICAP to set up new cash-equities division, Hedge fund administrator Conifer taps UBS exec, Gunning named global CIO at Russell
- Legal: Ritchie Capital founder pay $40m to end late trading probe, SEC settles $24m insider trading case against four Hong Kong residents including David Li Kwok Po, former Board Member of Dow Jones
- Regulatory: Bill sitting in House Ways and Means Committee would create commission to study hedge fund and PE industries, SEC mulls hedge fund minimums, New SEC office to oversee payments to injured investors
- Exchanges: US Department of Justice calls to split clearing houses from exchanges, Japanese investors increasingly trading electronically
- Commodities: Opalesque Exclusive: French FoHFs manager still believes in the energy sector, will double allocation to agriculture, McKinsey Quarterly reports on the new role of oil wealth in the world economy
- SRI Investing: Study: UK SRI funds heavily exposed to `mainstream` stocks including energy
- Tech Update: Cogency releases Version 3.2 of FoF Insight, says to cover `operational lifecycle of a fund of funds`, Paladyne and SunGard announce strategic partnership to provide fully-hosted solution for hedge fund back-office accounting
- Europe: Comment: European banking system in trouble, ECB may have to cut interest rates
- Middle-East: StanChart sees strong growth potential for Islamic derivatives used for hedging, Gulf economies are becoming asset-driven, more finance than oil: Reserves to reach $455 bln by 2008
- Asia: Comment: Shrinking Japan HF assets pummel broker stocks
- Emerging markets can withstand US slowdown says F&C`s Jeff Chowdhry
- ABN Amro Update: RBS to compete directly with Fortis for ABN Amro`s Dutch business clients, Fortis transfers ABN Amro funds from International Asset Management to Cadogan
- Activist News: Highland raises stake in Loral Space, Perry steps up demand for NEC data, Comment: Activist investors are still a long way from forcing any change at Generali
- News Briefs: Icahn set to start a blog on corporate abuses, US service sector stocks dropped to recession levels, EU treaty ratification signals opportunity for hedge funds, private equity - MEP, LatAm sovereign debt supply seen drying up, S&P says
- And Finally. Chinese astrologers offer Year of the Rat stock tips
- 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….
lubricious loo-BRISH-us, adjective:
1. Lustful; lewd.
2. Stimulating or appealing to sexual desire or imagination.
3. Having a slippery or smooth quality.
2. Stimulating or appealing to sexual desire or imagination.
3. Having a slippery or smooth quality.
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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
respective publishers, as referenced by header and appropriate hypertext links.
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