Archive: 02/14/2008
Main News
Systemic risk rises: correlation hits new highs
FT Alphaville - London,UK
Spreads are observed on a basket of CDO tranches. At low correlations, CDO capital structures function well: idiosyncratic “bad apple” defaults in the ...
FT Alphaville - London,UK
Spreads are observed on a basket of CDO tranches. At low correlations, CDO capital structures function well: idiosyncratic “bad apple” defaults in the ...
Bad Bets and Accounting Flaws Bring Staggering Losses
NYTimes.com via Yahoo! Finance Tue, 12 Feb 2008 7:40 PM PST
A $2 billion hedge fund fails, and there will be more, analysts say.
NYTimes.com via Yahoo! Finance Tue, 12 Feb 2008 7:40 PM PST
A $2 billion hedge fund fails, and there will be more, analysts say.
Banks to pause delinquent mortgage foreclosures
Reuters - USA
... unlike an earlier plan aimed at freezing interest rates for subprime mortgage holders who cannot afford payments that reset to higher levels. ...
Reuters - USA
... unlike an earlier plan aimed at freezing interest rates for subprime mortgage holders who cannot afford payments that reset to higher levels. ...
Monoline losses and downgrades will hit credit fund managers
Thomson Investment Management News - Tuesday February 12, 20:19 GMT
Thomson Investment Management News - Tuesday February 12, 20:19 GMT
by Gary Smith
Hedge Fund Assets Pushing $2.8T
Hedge funds added another 3.98% in assets in the fourth quarter, boosting its total to $2.78 trillion, according to the 2008 Hedge Fund Asset Flows & Trends Report 4Q supplement.Read more
Hedge funds added another 3.98% in assets in the fourth quarter, boosting its total to $2.78 trillion, according to the 2008 Hedge Fund Asset Flows & Trends Report 4Q supplement.Read more
Kerviel Losses Erase Promotion Chances for French Bank Clerks
Bloomberg - Wednesday February 13, 10:31 GMT
Bloomberg - Wednesday February 13, 10:31 GMT
Goldman's Traders Beat The Street–Again!
Wall Street Journal Interactive - Tuesday February 12, 11:17
Wall Street Journal Interactive - Tuesday February 12, 11:17
IMF discredits decoupling. The IMF warns that emerging economies will not be immune from a global economic slowdown.
Guru makes light of Buffett offer. Turnaround specialist Wilbur Ross told CNBC he doesn't think bond insurers Ambac (ABK) and MBIA (MBI) will bite on Warren Buffett's (BRK.A) offer to reinsure up to $80B in muni bonds. CNBC said Tuesday ABK was the unnamed firm that has already rebuffed the offer.
Senior hedge exec to launch new firm backed by GE
Source: Guardian.co.uk
Carrie McCabe, among the most prominent women executives in the hedge fund industry, is launching a new hedge fund investment firm backed by General Electric's asset management division, sources familiar with the situation said on Tuesday. More... <http://www.hedgefund-index.com/newstoday.asp>
Source: Guardian.co.uk
Carrie McCabe, among the most prominent women executives in the hedge fund industry, is launching a new hedge fund investment firm backed by General Electric's asset management division, sources familiar with the situation said on Tuesday. More... <http://www.hedgefund-index.com/newstoday.asp>
No charges will be filed in the death of hedge fund manager Tobias
International Herald Tribune Tue, 12 Feb 2008 4:14 PM PST
The state attorney's office in Palm Beach County, Florida, said that no charges would be filed in the drowning of Seth Tobias, 44, a hedge fund manager and regular commentator on CNBC.
International Herald Tribune Tue, 12 Feb 2008 4:14 PM PST
The state attorney's office in Palm Beach County, Florida, said that no charges would be filed in the drowning of Seth Tobias, 44, a hedge fund manager and regular commentator on CNBC.
ZÜRICH, Switzerland (HedgeWorld.com)—Julius Baer Holding Ltd., part of the Julius Baer Group, said on Tuesday [Feb. 12] that it filed a registration statement with the U. ......
Wednesday , 13 Feb 2008
As the financial market situation is seen as improving profit taking and asset switching has hit precious metals prices.
As the financial market situation is seen as improving profit taking and asset switching has hit precious metals prices.
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Yield Curve Corner
Bernanke sees housing better by end-year--lawmaker
Reuters - USA
WASHINGTON, Feb 12 (Reuters) - Federal Reserve Chairman Ben Bernanke told lawmakers on Tuesday he expects the downtrodden US housing sector to improve by ...
Reuters - USA
WASHINGTON, Feb 12 (Reuters) - Federal Reserve Chairman Ben Bernanke told lawmakers on Tuesday he expects the downtrodden US housing sector to improve by ...
Recession Watch: Goldman vs. Paulson
BusinessWeek - USA
While there is risk Bernanke could suggest the economy has indeed entered a recession, we suspect this week's key data will argue against such a conclusion. ...
BusinessWeek - USA
While there is risk Bernanke could suggest the economy has indeed entered a recession, we suspect this week's key data will argue against such a conclusion. ...
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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/TRCnicholas044_GJ.jpg
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Iranian Situation and Other Man Made Disasters
Iran puts uranium gas in new centrifuges
AP via Yahoo! News Wed, 13 Feb 2008 12:10 PM PST
Iran's new generation of advanced centrifuges have begun processing small quantities of the gas that can be used to make the fissile core of nuclear warheads, diplomats told The Associated Press on Wednesday.
AP via Yahoo! News Wed, 13 Feb 2008 12:10 PM PST
Iran's new generation of advanced centrifuges have begun processing small quantities of the gas that can be used to make the fissile core of nuclear warheads, diplomats told The Associated Press on Wednesday.
Iran reinstates Khomeini's grandson for election: report
AFP via Yahoo! News Wed, 13 Feb 2008 6:52 AM PST
Iran has allowed revolutionary leader Ayatollah Ruhollah Khomeini's grandson and some other reformists to fight parliamentary elections after initially disqualifying them, reports said on Wednesday.
AFP via Yahoo! News Wed, 13 Feb 2008 6:52 AM PST
Iran has allowed revolutionary leader Ayatollah Ruhollah Khomeini's grandson and some other reformists to fight parliamentary elections after initially disqualifying them, reports said on Wednesday.
Iran to allow some banned from election
AP via Yahoo! News Wed, 13 Feb 2008 6:00 AM PST
Iran's hard-line constitutional watchdog has reinstated more than 280 candidates for next month's crucial parliament elections, the group said Wednesday, but most prominent pro-democracy reformists still remain out of the race.
AP via Yahoo! News Wed, 13 Feb 2008 6:00 AM PST
Iran's hard-line constitutional watchdog has reinstated more than 280 candidates for next month's crucial parliament elections, the group said Wednesday, but most prominent pro-democracy reformists still remain out of the race.
Syria: Israel Responsible For Mughniyah's Death?
February 13, 2008 1343 GMT
Multiple reliable Stratfor sources have confirmed that Israel's Mossad was behind the Feb. 12 car bombing in Damascus, Syria, that killed Hezbollah's operations chief Imad Mughniyah.
http://www.stratfor.com/analysis/syria_israel_responsible_mughniyahs_death
February 13, 2008 1343 GMT
Multiple reliable Stratfor sources have confirmed that Israel's Mossad was behind the Feb. 12 car bombing in Damascus, Syria, that killed Hezbollah's operations chief Imad Mughniyah.
http://www.stratfor.com/analysis/syria_israel_responsible_mughniyahs_death
The U.S.-Iranian Negotiations: Beyond the Rhetoric
February 12, 2008 1943 GMT
Ongoing U.S.-Iranian talks over Iraq's future appear to be approaching a public phase, with Iran announcing a new round of talks next week and Iran's president visiting Iraq before March 20.
http://www.stratfor.com/weekly/u_s_iranian_negotiations_beyond_rhetoric
February 12, 2008 1943 GMT
Ongoing U.S.-Iranian talks over Iraq's future appear to be approaching a public phase, with Iran announcing a new round of talks next week and Iran's president visiting Iraq before March 20.
http://www.stratfor.com/weekly/u_s_iranian_negotiations_beyond_rhetoric
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Opalesque’s Corner
- Opalesque Exclusive: SVM prepares new fund, Highlander fund up 29.4% in 2007, AUM reach $1.6bln
- Fund launches: Former Blackstone Alternatives/FRM executive raises money for new FoHF, LDV Capital Management prepares first activist hedge fund, Penso unveils $225m Crisis Fund
- Smith Management opens India-focused hedge fund to new investors
- M&A: Midas Capital set to merge with iimia MitonOptimal, Friends Provident to sell F&C following strategic review
- Indices: Eurekahedge Jan 2008 Hedge Fund Index at -3% est., early reporting suggests a rough start of the year
- Goldman`s traders beat Wall Street, fewest loss-making days in 2007
- Trends: Foreign bond funds are gaining traction with investors as they provide exposure to foreign currencies and higher yields
- MFA seeks to be more politically active
- SocGen Update: Societe Generale seeks to raise $8bln, Embarrassing insider trading by board member
- Credit Crunch Update: Buffett offers to take over $800bln of municipal bonds, Offer to monolines brings initial relief, Buffett bond plan puts heat on banks, Regulator may step up if Buffett offer is rejected, Update: AIG burned by $5.9bln CDO mess, Monoline ACA sells CDO business; averts disaster?, Credit Suisse Q4 net profit down 72% to $1.2bln, Citigroup plans $3.5 billion facility to support SIVs, Update: Banks to pause delinquent mortgage foreclosures through `Project Lifeline`, Comment: Crisis` other problems: leveraged loans
- Institutions: `Too risky`: New Mexico State House Representative introduces bill to ban $15bln state fund from further hedge fund investments
- People: Merrill`s Goldsmith quits for Strategic Value Partners, people say, Morgan Stanley appoints new Asia chief, UBS selects investment chief, UBS Securities deepens hedge fund coverage
- Legal: Justin M. Paperny charged for hedge fund fraud, Hedge fund sues Transmeta, an acquisition target
- Regulators: Japan`s FSA publishes plan for strengthening competitiveness of financial and capital markets, Norway`s FSA tightens rules on sale of structured products
- Energy investing: Investec to bring $2bln of energy funds in-house, may expand product range with hedge funds
- Environmental Trading News: Bank Of America CEO: Carbon emissions need cap-and-trade system, First deal under Californian Forest Protocols: Broker buys 60,000 tons of carbon credits for hedge funds, PE
- Masdar City: Work starts on $22bln carbon-neutral, waste-free city
- Exchanges: TowerGroup names five to survive exchange consolidation, Congressman opposes proposed tax on futures transactions, CFTC and the China Securities Regulatory Commission sign arrangement for enhanced cooperation and collaboration
- Europe: UK Treasury retreats over non-domiciled tax crackdown, Switzerland targets UK`s non-dom execs, Geneva seen as biggest beneficiaries of UK tax moves
- Middle East: Shariah-compliant investments bode well for investors in the MENA region, says HSBC expert
- Asia: HSBC says Japan may lead stock rise, China may not repeat bull run, Aberdeen says South Korea and Thailand best Asia debt bets
- Art Investing: China (not France) occupies 3rd place in the global market as new `Warhols` emerge
- Activist News: New York Times names two board nominees ahead of activist demands, Harbinger Capital reports 20.6% Calpine stake, DE Shaw keeps chocolate maker`s falling shares
- News Briefs: Julius Baer lines up $1bln IPO of U.S. mutual fund unit, The Icelandic currency has deteriorated further, UAE hedge fund plans realty investments, How Fed rate cuts are helping to fuel a Hong Kong boom, Harvey Twomey to join Deutsche Bank, Vietnam may allow wholly foreign-owned fund management firms, Aussie listed HF HFA Holdings reports positive investment inflows, earnings growth
- And Finally. Japan`s Obama city cheers U.S. Democrat contender
- Logon: http://www.opalesque.com/main.php?act=archive
- Fund launches: Former Blackstone Alternatives/FRM executive raises money for new FoHF, LDV Capital Management prepares first activist hedge fund, Penso unveils $225m Crisis Fund
- Smith Management opens India-focused hedge fund to new investors
- M&A: Midas Capital set to merge with iimia MitonOptimal, Friends Provident to sell F&C following strategic review
- Indices: Eurekahedge Jan 2008 Hedge Fund Index at -3% est., early reporting suggests a rough start of the year
- Goldman`s traders beat Wall Street, fewest loss-making days in 2007
- Trends: Foreign bond funds are gaining traction with investors as they provide exposure to foreign currencies and higher yields
- MFA seeks to be more politically active
- SocGen Update: Societe Generale seeks to raise $8bln, Embarrassing insider trading by board member
- Credit Crunch Update: Buffett offers to take over $800bln of municipal bonds, Offer to monolines brings initial relief, Buffett bond plan puts heat on banks, Regulator may step up if Buffett offer is rejected, Update: AIG burned by $5.9bln CDO mess, Monoline ACA sells CDO business; averts disaster?, Credit Suisse Q4 net profit down 72% to $1.2bln, Citigroup plans $3.5 billion facility to support SIVs, Update: Banks to pause delinquent mortgage foreclosures through `Project Lifeline`, Comment: Crisis` other problems: leveraged loans
- Institutions: `Too risky`: New Mexico State House Representative introduces bill to ban $15bln state fund from further hedge fund investments
- People: Merrill`s Goldsmith quits for Strategic Value Partners, people say, Morgan Stanley appoints new Asia chief, UBS selects investment chief, UBS Securities deepens hedge fund coverage
- Legal: Justin M. Paperny charged for hedge fund fraud, Hedge fund sues Transmeta, an acquisition target
- Regulators: Japan`s FSA publishes plan for strengthening competitiveness of financial and capital markets, Norway`s FSA tightens rules on sale of structured products
- Energy investing: Investec to bring $2bln of energy funds in-house, may expand product range with hedge funds
- Environmental Trading News: Bank Of America CEO: Carbon emissions need cap-and-trade system, First deal under Californian Forest Protocols: Broker buys 60,000 tons of carbon credits for hedge funds, PE
- Masdar City: Work starts on $22bln carbon-neutral, waste-free city
- Exchanges: TowerGroup names five to survive exchange consolidation, Congressman opposes proposed tax on futures transactions, CFTC and the China Securities Regulatory Commission sign arrangement for enhanced cooperation and collaboration
- Europe: UK Treasury retreats over non-domiciled tax crackdown, Switzerland targets UK`s non-dom execs, Geneva seen as biggest beneficiaries of UK tax moves
- Middle East: Shariah-compliant investments bode well for investors in the MENA region, says HSBC expert
- Asia: HSBC says Japan may lead stock rise, China may not repeat bull run, Aberdeen says South Korea and Thailand best Asia debt bets
- Art Investing: China (not France) occupies 3rd place in the global market as new `Warhols` emerge
- Activist News: New York Times names two board nominees ahead of activist demands, Harbinger Capital reports 20.6% Calpine stake, DE Shaw keeps chocolate maker`s falling shares
- News Briefs: Julius Baer lines up $1bln IPO of U.S. mutual fund unit, The Icelandic currency has deteriorated further, UAE hedge fund plans realty investments, How Fed rate cuts are helping to fuel a Hong Kong boom, Harvey Twomey to join Deutsche Bank, Vietnam may allow wholly foreign-owned fund management firms, Aussie listed HF HFA Holdings reports positive investment inflows, earnings growth
- And Finally. Japan`s Obama city cheers U.S. Democrat contender
- 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….
perdurable pur-DUR-uh-bul; pur-DYUR-, adjective:
Very durable; lasting; continuing long.
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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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