Archive: 02/27/2008
Main News
Report warns of hedge fund risks
BusinessWeek - USA
By ALAN ZIBEL Despite closer monitoring by regulators, hedge funds still pose significant risks to the financial system, a government report said Monday. ...
BusinessWeek - USA
By ALAN ZIBEL Despite closer monitoring by regulators, hedge funds still pose significant risks to the financial system, a government report said Monday. ...
Can Europe Withstand A U.S. Recession?
Recent economic data from the Eurozone and the U.K. suggest that the downturn in the U.S. and the ongoing dislocation in the credit markets are becoming a real concern for European economies. While there is a general consensus among economists that the region should escape a genuine recession, most agree that a slowdown is underway. Its magnitude and duration, we believe, will primarily depend on consumers' response to the new environment.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAADCQTVsLgHxhilpuHQJhuV2VR
Recent economic data from the Eurozone and the U.K. suggest that the downturn in the U.S. and the ongoing dislocation in the credit markets are becoming a real concern for European economies. While there is a general consensus among economists that the region should escape a genuine recession, most agree that a slowdown is underway. Its magnitude and duration, we believe, will primarily depend on consumers' response to the new environment.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAADCQTVsLgHxhilpuHQJhuV2VR
Beyond subprime: Citi’s writedowns
FT Alphaville - London,UK
Here’s an expansion of it: Due to the difficulty in estimating daily profit and loss in the ABS CDO market, those trading-related revenues, including recent ...
FT Alphaville - London,UK
Here’s an expansion of it: Due to the difficulty in estimating daily profit and loss in the ABS CDO market, those trading-related revenues, including recent ...
Bankruptcy Act
Wall Street Journal - USA
Mr. Sinai adjusts for the size of each state market and finds that Californians are more than six times as likely to hold a subprime mortgage as residents ...
Wall Street Journal - USA
Mr. Sinai adjusts for the size of each state market and finds that Californians are more than six times as likely to hold a subprime mortgage as residents ...
Subprime Suspect
Conde Nast Portfolio - New York,NY,USA
In a recent SEC filing, Silicon Valley chipmaker National Semiconductor cautioned, "Spreading subprime-mortgage failures could affect our future costs and ...
Conde Nast Portfolio - New York,NY,USA
In a recent SEC filing, Silicon Valley chipmaker National Semiconductor cautioned, "Spreading subprime-mortgage failures could affect our future costs and ...
, by Darrel Whitten
Credit FAQ: The Interaction Of Bond Insurance And Credit Ratings--Structured Finance Update
Bond insurance is a commitment by a monoline insurance company to make the scheduled principal and interest payments on a bond if the obligor of the bond or the underlying structured vehicle is unable to do so. Following our recent rating actions on certain bond insurers and given the possibility of future actions, we've prepared answers to frequently asked questions about credit-enhanced ratings.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAADCQTVsLgHxhilpuHQJhuV2VW
Bond insurance is a commitment by a monoline insurance company to make the scheduled principal and interest payments on a bond if the obligor of the bond or the underlying structured vehicle is unable to do so. Following our recent rating actions on certain bond insurers and given the possibility of future actions, we've prepared answers to frequently asked questions about credit-enhanced ratings.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQAADCQTVsLgHxhilpuHQJhuV2VW
, by Bill Gross
, by Index Universe
Markit's LCDS & Loans Report for January 2008 is now available for download.
, by David Merkel
Americans Oppose Sovereign Funds
An online survey of 1,000 registered voters in the U.S. showed that 55% think sovereign-wealth fund investments in the country will harm national security.Read more
An online survey of 1,000 registered voters in the U.S. showed that 55% think sovereign-wealth fund investments in the country will harm national security.Read more
Just Another SAC Capital Employee Doing His Job
Dealbreaker.com - Tuesday February 26, 11:15 GMT
Dealbreaker.com - Tuesday February 26, 11:15 GMT
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Yield Curve Corner
, by David Merkel
11 reasons Bernanke's recession lasts till 2011
MarketWatch - USA
Testifying before Congress: Fed Chairman Ben Bernanke on the left. Treasury Secretary Henry Paulson on the right. The American public stuck in the middle. ...
MarketWatch - USA
Testifying before Congress: Fed Chairman Ben Bernanke on the left. Treasury Secretary Henry Paulson on the right. The American public stuck in the middle. ...
Citigroup reveals $100m daily trading hit on 15 occasions
Citigroup disclosed that traders in its investment bank piled up daily losses of more than $100m (?67.5m) on 15 separate occasions last year, the banking giant disclosed in its annual report filed on Friday. (The Wall Street Journal)
http://mail2.efnmail.co.uk/r/342992/MTk4MTI1OjE2NTI3/
Citigroup disclosed that traders in its investment bank piled up daily losses of more than $100m (?67.5m) on 15 separate occasions last year, the banking giant disclosed in its annual report filed on Friday. (The Wall Street Journal)
http://mail2.efnmail.co.uk/r/342992/MTk4MTI1OjE2NTI3/
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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/FSHStexas057_G12.jpg
Six climate perspectives as we enter final 6 weeks of Winter Season... The La Niña phenomenon and its hemispheric process have 3 main post-Winter influences of concern to North America.
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Iranian Situation and Other Man Made Disasters
Iran's upbeat conservatives not all behind president
Reuters via Yahoo! News Tue, 26 Feb 2008 7:06 AM PST
Iran's conservative politicians said on Tuesday they expected to keep control of parliament in a March election, but analysts said incoming lawmakers were likely to be more critical of hardline President Mahmoud Ahmadinejad.
Reuters via Yahoo! News Tue, 26 Feb 2008 7:06 AM PST
Iran's conservative politicians said on Tuesday they expected to keep control of parliament in a March election, but analysts said incoming lawmakers were likely to be more critical of hardline President Mahmoud Ahmadinejad.
Egypt, Iran: Obstacles to Closer Ties
February 26, 2008 0012 GMT
Iranian efforts to reach out to Egypt will not produce much.
http://www.stratfor.com/analysis/egypt_iran_obstacles_closer_ties
February 26, 2008 0012 GMT
Iranian efforts to reach out to Egypt will not produce much.
http://www.stratfor.com/analysis/egypt_iran_obstacles_closer_ties
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Opalesque’s Corner
- Editor's Note
- Renaissance Technologies gets SEBI approval to operate in India
- GAO report: Hedge funds `still pose systemic risk` to economy, Hedge funds warned over multiple brokers
- Fund launches: Start-up to launch delayed credit fund, GAM launches new FoHFs offering, same strategies as GAM Diversity, Udo L/S Synthetic Fund helps boost pension returns through agency mortgage derivatives, Korea Investment Holdings and Atlas Capital Management form K-Atlas Advisors and Launch K-Atlas Fund
- Opalesque Exclusive: New Argentinean boutique gained +0.81% from relative value trades in January where MSCI Latam lost -6.62%, Revisiting ideas behind value investing, Latin America: S&P says it will keep growing despite U.S. economic slowdown
- Performance Commentaries: Research: Funds of hedge funds start to show impact of sub-prime trading, Update: EDHEC: FoHFs returned 10.07% in 2007, better than the averages of the last three years, Hedge fund blowups have been rather unfulfilling
- GLG scoops Baring FoHFs mandate from Fauchier
- Indices: Canadian Hedge Watch presents the CHW-HF Composite Index and sub-indices returns for January, 2008
- Update: Morningstar` star ratings signal popularity of alternative investment
- Armory Advisors starts marketing distressed fund
- Views: Jim Rogers: Dollar to rally this year before further slump
- Institutions: $25bln U.K. Shell pension plan considers hedge fund investments, examines tax treatment, South Korea pension fund eyes U.S. bank stakes and alternative investments
- Credit Crunch Update: Goldman sees $1bln -$12bln more write-downs at top brokers, Fitch announces various rating actions on mortgage insurers `mainly driven by continued weakness in the U.S. mortgage markets`, Fitch Report: Exposure of U.S. banks & broker/dealers to financial guarantors considered manageable, MBIA keeps S&P top ratings, Ambac rating might be cut, Ambac aid plan nears, Dresdner Bank ready to join Ambac rescue, Commentary: Bailing out bond insurers (video)
- Analysis: Accounting for the bond-yield conundrum, Comment: Municipal bond market pain may prove a brief problem, or a real crisis
- SocGen Update: SocGen chief says `resignation no longer on table`
- Regulators: Europe`s biggest pension fund warns EU lawmakers against new hedge fund rules, Update: Chinese banks can now invest in Japanese securities but not in hedge funds yet
- Legal: Florida hires Tanya Styblo Beder to help probing $10bln losses in mortgage meltdown, Former hedge fund manager sentenced to five years in federal prison in securities fraud case, Lancer Update: Accused fund manager makes court appearance, Jury convicts five of fraud in General Re, AIG case
- Commodities: Fund manager says rocketing metals boost Latin America, Asian technology exporters are best avoided
- Environmental Trading News: Update: LCH.Clearnet announces launch date for OTC emissions clearing, Environmental lending to coal-fired powered plants: standards to tighten, UK: Stanley Fink to lead working group on world`s first green technology trading market
- Exchanges: BSE invests in commodity bourse, may allow commodities trading, Osaka exchange signs pacts with N.Y., Tokyo exchanges
- Europe: EDHEC survey: The practices of European asset managers and investors examined
- Emerging Markets: Emerging economies also have an inflation problem, why and what does it mean for the rest of the world?, Comment: Goldman Sachs: Decoupling gives way to recoupling
- Guide: Service Provider League Table Guide, 2007 edition, free download
- Sovereign Wealth Funds: Update: U.S. pushes sovereign funds to open to outside scrutiny, seeks set of rules, Greenspan backs sovereign funds investing in US, says negative response driven by protectionism, India considers $5bln sovereign wealth fund
- Activist News: Renaissance Technologies buys stake in Alvarion and becomes a party at interest in WiMAX firm, Comment: `Socialist` policies protecting Japanese electricity frustrates TCI, Harbinger raises New York Times stake to 19.03%
- News Briefs: Papamarkou Asset Management`s CEO buys the firm, Loeb closes deal on Central Park penthouse, New Nasdaq program helps check best execution, Herbert Smith oversees London listing of MW Tops, Berlin to share tax list information, Islamic bonds market to grow by 30-35% in 2008 - Moody`s
- And Finally. German police dogs to wear shoes, blue ones to match officers` uniforms
- Logon: http://www.opalesque.com/main.php?act=archive
- Renaissance Technologies gets SEBI approval to operate in India
- GAO report: Hedge funds `still pose systemic risk` to economy, Hedge funds warned over multiple brokers
- Fund launches: Start-up to launch delayed credit fund, GAM launches new FoHFs offering, same strategies as GAM Diversity, Udo L/S Synthetic Fund helps boost pension returns through agency mortgage derivatives, Korea Investment Holdings and Atlas Capital Management form K-Atlas Advisors and Launch K-Atlas Fund
- Opalesque Exclusive: New Argentinean boutique gained +0.81% from relative value trades in January where MSCI Latam lost -6.62%, Revisiting ideas behind value investing, Latin America: S&P says it will keep growing despite U.S. economic slowdown
- Performance Commentaries: Research: Funds of hedge funds start to show impact of sub-prime trading, Update: EDHEC: FoHFs returned 10.07% in 2007, better than the averages of the last three years, Hedge fund blowups have been rather unfulfilling
- GLG scoops Baring FoHFs mandate from Fauchier
- Indices: Canadian Hedge Watch presents the CHW-HF Composite Index and sub-indices returns for January, 2008
- Update: Morningstar` star ratings signal popularity of alternative investment
- Armory Advisors starts marketing distressed fund
- Views: Jim Rogers: Dollar to rally this year before further slump
- Institutions: $25bln U.K. Shell pension plan considers hedge fund investments, examines tax treatment, South Korea pension fund eyes U.S. bank stakes and alternative investments
- Credit Crunch Update: Goldman sees $1bln -$12bln more write-downs at top brokers, Fitch announces various rating actions on mortgage insurers `mainly driven by continued weakness in the U.S. mortgage markets`, Fitch Report: Exposure of U.S. banks & broker/dealers to financial guarantors considered manageable, MBIA keeps S&P top ratings, Ambac rating might be cut, Ambac aid plan nears, Dresdner Bank ready to join Ambac rescue, Commentary: Bailing out bond insurers (video)
- Analysis: Accounting for the bond-yield conundrum, Comment: Municipal bond market pain may prove a brief problem, or a real crisis
- SocGen Update: SocGen chief says `resignation no longer on table`
- Regulators: Europe`s biggest pension fund warns EU lawmakers against new hedge fund rules, Update: Chinese banks can now invest in Japanese securities but not in hedge funds yet
- Legal: Florida hires Tanya Styblo Beder to help probing $10bln losses in mortgage meltdown, Former hedge fund manager sentenced to five years in federal prison in securities fraud case, Lancer Update: Accused fund manager makes court appearance, Jury convicts five of fraud in General Re, AIG case
- Commodities: Fund manager says rocketing metals boost Latin America, Asian technology exporters are best avoided
- Environmental Trading News: Update: LCH.Clearnet announces launch date for OTC emissions clearing, Environmental lending to coal-fired powered plants: standards to tighten, UK: Stanley Fink to lead working group on world`s first green technology trading market
- Exchanges: BSE invests in commodity bourse, may allow commodities trading, Osaka exchange signs pacts with N.Y., Tokyo exchanges
- Europe: EDHEC survey: The practices of European asset managers and investors examined
- Emerging Markets: Emerging economies also have an inflation problem, why and what does it mean for the rest of the world?, Comment: Goldman Sachs: Decoupling gives way to recoupling
- Guide: Service Provider League Table Guide, 2007 edition, free download
- Sovereign Wealth Funds: Update: U.S. pushes sovereign funds to open to outside scrutiny, seeks set of rules, Greenspan backs sovereign funds investing in US, says negative response driven by protectionism, India considers $5bln sovereign wealth fund
- Activist News: Renaissance Technologies buys stake in Alvarion and becomes a party at interest in WiMAX firm, Comment: `Socialist` policies protecting Japanese electricity frustrates TCI, Harbinger raises New York Times stake to 19.03%
- News Briefs: Papamarkou Asset Management`s CEO buys the firm, Loeb closes deal on Central Park penthouse, New Nasdaq program helps check best execution, Herbert Smith oversees London listing of MW Tops, Berlin to share tax list information, Islamic bonds market to grow by 30-35% in 2008 - Moody`s
- And Finally. German police dogs to wear shoes, blue ones to match officers` uniforms
- Logon: http://www.opalesque.com/main.php?act=archive
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Misc. Items of Interest
US – Experts have warned the baby boomer generation to "plan not panic".
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Funnies, Facts, Quotes, etc….
aplomb uh-PLOM, noun:
Assurance of manner or of action; self-possession; confidence; coolness.
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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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