Archive: 03/18/2008
Main News
2ND UPDATE: JP Morgan To Buy Bear Stearns For $2 A Share
CNNMoney.com - USA
The troubled broker had $33 billion of mortgage-related holdings at the end of February. Roughly $2 billion of that was tied to subprime home loans, ...
See all stories on this topic
CNNMoney.com - USA
The troubled broker had $33 billion of mortgage-related holdings at the end of February. Roughly $2 billion of that was tied to subprime home loans, ...
See all stories on this topic
Seattle hedge fund trades in futures, seeks investors
BizJournals Sun, 16 Mar 2008 10:45 PM PDT
A Seattle hedge fund launched a year ago by prominent local investors Nick Hanauer, Rich Barton and J.D. Delafield says it is gearing up to seek large institutional investors.
BizJournals Sun, 16 Mar 2008 10:45 PM PDT
A Seattle hedge fund launched a year ago by prominent local investors Nick Hanauer, Rich Barton and J.D. Delafield says it is gearing up to seek large institutional investors.
Touradji Says Commodity `Buying Orgy' Increases Risks (Update1)
Bloomberg - USA
By Saijel Kishan and Katherine Burton March 17 (Bloomberg) -- Paul Touradji, founder of the $3.5 billion hedge fund Touradji Capital Management LP, ...
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Bloomberg - USA
By Saijel Kishan and Katherine Burton March 17 (Bloomberg) -- Paul Touradji, founder of the $3.5 billion hedge fund Touradji Capital Management LP, ...
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No Place to Hide for a Global FundSentinel International fund picks get battered Monday.
http://online.barrons.com/article/SB120577476509642251.html?mod=djemBF
http://online.barrons.com/article/SB120577476509642251.html?mod=djemBF
Wilbur Ross Scoops Up Option One
Forbes - NY,USA
Countrywide was in subprime mortgage trouble when it was purchased by Bank of America for $4.1 billion in January. (See "Countrywide On Clearance" ) Option ...
Forbes - NY,USA
Countrywide was in subprime mortgage trouble when it was purchased by Bank of America for $4.1 billion in January. (See "Countrywide On Clearance" ) Option ...
Bloomberg - 10 hours ago - related articles »
Industry Report Card: U.S. Finance Companies Brace For A Soft Economy
Of the 30 U.S. finance companies that we rate, 15 reported a loss after taxes during fourth-quarter 2007. GAAP losses at six of these firms were caused by fair value or mark-to-market write-downs, while five were driven by provisioning for loan losses. Credit quality deterioration that had already hit residential lenders showed up in auto lending, credit cards, and commercial real estate. But for most of our rated firms, the provisions or write-downs represent forecasts or fears.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQABYYQTVsLgHxhilpuHQJhuV2VU
Of the 30 U.S. finance companies that we rate, 15 reported a loss after taxes during fourth-quarter 2007. GAAP losses at six of these firms were caused by fair value or mark-to-market write-downs, while five were driven by provisioning for loan losses. Credit quality deterioration that had already hit residential lenders showed up in auto lending, credit cards, and commercial real estate. But for most of our rated firms, the provisions or write-downs represent forecasts or fears.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQABYYQTVsLgHxhilpuHQJhuV2VU
Most investors are worried about a recession; you should consider GOLD futures/options as a way to hedge your portfolio's value. Huntington Financial has 20+ years experience and is offering a 30 Day FREE Trial with live charts, quotes and trade recommendations plus FREE options booklet.
Goldman Sachs to Unveil $3bn Writedown
Reuters - Monday March 17, 09:30 GMT
Reuters - Monday March 17, 09:30 GMT
Blankfein Cracks the Whip!
Dealbreaker.com - Friday March 14, 10:30 GMT
Dealbreaker.com - Friday March 14, 10:30 GMT
Activist investor forces UBS to publish sub-prime probe details
UBS bowed to pressure from Ethos, an activist investor representing Swiss pension funds, by agreeing to publish details of an inquiry by Swiss Federal Banking Commission into how it became Europe's biggest casual¬ty of the sub-prime crisis. (Financial Times)
http://mail2.efnmail.co.uk/r/348161/MTk4MTI1OjE2NzE2/
UBS bowed to pressure from Ethos, an activist investor representing Swiss pension funds, by agreeing to publish details of an inquiry by Swiss Federal Banking Commission into how it became Europe's biggest casual¬ty of the sub-prime crisis. (Financial Times)
http://mail2.efnmail.co.uk/r/348161/MTk4MTI1OjE2NzE2/
USS awards hedge fund replication mandate
http://www.ipe.com/news/USS_awards_hedge_fund_replication_mandate_27444.php
http://www.ipe.com/news/USS_awards_hedge_fund_replication_mandate_27444.php
Hedge Funds, Once a Windfall,
Wall Street Journal - USA
By GREGORY ZUCKERMAN For years, Bear Stearns Cos. reaped a windfall lending money to hedge funds and conducting trades for them. As these funds multiplied, ...
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Wall Street Journal - USA
By GREGORY ZUCKERMAN For years, Bear Stearns Cos. reaped a windfall lending money to hedge funds and conducting trades for them. As these funds multiplied, ...
See all stories on this topic
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Yield Curve Corner
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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/FSHSplains077_MO.jpg
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Iranian Situation and Other Man Made Disasters
Iran eases gas ration, but at a cost
AP via Yahoo! News Mon, 17 Mar 2008 11:02 AM PDT
Iran announced Monday it would ease gas rationing for the next month, allowing people to buy gasoline above the imposed limit during a major holiday, but at a far higher price.
AP via Yahoo! News Mon, 17 Mar 2008 11:02 AM PDT
Iran announced Monday it would ease gas rationing for the next month, allowing people to buy gasoline above the imposed limit during a major holiday, but at a far higher price.
Iran, Switzerland sign gas export deal
AFP via Yahoo! News Mon, 17 Mar 2008 6:29 AM PDT
Iran and Switzerland on Monday signed a major agreement for Iranian gas exports to a Swiss company, in a rare energy deal between Tehran and the West as their nuclear showdown drags on.
AFP via Yahoo! News Mon, 17 Mar 2008 6:29 AM PDT
Iran and Switzerland on Monday signed a major agreement for Iranian gas exports to a Swiss company, in a rare energy deal between Tehran and the West as their nuclear showdown drags on.
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Opalesque’s Corner
- Opalesque Exclusive: Seeder vehicle Skybridge sees current market turmoil as opportunity to scout new managers
- Fund launches: Opalesque Exclusive: Shore Capital Group to launch fund that will invest in credit crunch opportunities, AUM up 54%, revenues down in 2007, Former ADM executive launches hedge fund
- Performance: Opalesque Exclusive: LODH loses out on Peloton and Focus bets, BlueGold commodity hedge fund gains 30.6% in February, Chesapeake Capital up 17.27% in February, 20.10% YTD, FRM`s Systematic Trading FoHFs up 7.8% in February, comment from FRM`S Directional Trading Sector Head, Clarkson`s 2007 profit rose 23% on shipping demand, hedge fund returned 26.7%, AUM up to $191m, Funds of hedge funds increasingly correlated with world equities, Global macro hedge funds play off the volatility and thrive once more
- Assets: Seattle hedge fund L1 Partners seeks investors
- Opalesque Exclusive: ProFundCom study finds room for improvement in hedge fund marketing campaigns
- Investors: Opalesque`s hedge fund manager Roundtable Series provides unique, new insights into global hedge fund industry, Merril Lynch survey: Single family offices to expand alternatives allocations, Aima`s guide for investors comes from the horses` mouths
- Bear Stearns: JP Morgan pays $2 a share for Bear Stearns, Bear Stearns conference call (video), Suspicious options activity surrounding Bear (video), JP Morgan`s Bear hug, >Fed `closely` watching markets, approves Bear bail out, to provide liquidity as needed, Hedge funds fleeing Bear`s prime broker business, Sources say London traders told to stop dealing with Bear, Bear Stearns near collapse puts Asian firms on guard
- Credit Crunch Update: Carlyle Capital to liquidate what is left, Fitch: Increasing losses in U.S. bank`s home equity portfolios, expected to accelerate in 2008, UBS bows to activist pressure over disclosure of losses, Goldman Sachs to reveal $3bn writedowns, Ambac says has $15bln to pay claims, Debt reckoning: U.S. receives massive margin call, U.S. Fed cuts discount rate, says dealers may borrow
- People: NYC woman-run hedge fund adds to portfolio team, Lawyer appointed to Hedge Fund Association board, Citi names Michael Klein Chairman, John Havens CEO
- Governance: Sarbanes and Oxley say it will take a `good scam` to regulate hedge funds
- Legal: Opalesque Exclusive: Mercer`s reputation is tarnished in the Norshield case, Law firm alerts to new guidance from the Financial Crimes Enforcement Network
- Commodities: HF manager Touradji says commodity `buying orgy` increases risks, MAD Group`s Aggressive Growth Program up 48.9% in February, FourWinds makes two senior hires and opens Hong Kong office, A handful of Wall Street investors blamed for driving up the cost of crude to record highs
- Environmental Trading News: All three remaining presidential candidates favor a mandatory cap-and-trade CO2 system. Is now the time to buy carbon contracts? Can conservation and capitalism mix? CCX or NYMEX? Will it really work?
- Exchanges / Trading: CFTC to up surveillance in reaction to recent trading scandals, NYSE Euronext to purchase CME Group Metals Complex, Celent Report on the evolution of Direct Market Access (DMA) trading services in the US and Europe
- Book: François-Serge Lhabitant publishes new book on stock market liquidity - implications for market microstructure and asset pricing
- Awards: Boutiques lead winners at 2007 InvestHedge Awards, MFA`s John G. Gaine named compliance leader of the year
- Events: Risk principles for asset managers - A review and discussion
- Sovereign Wealth Funds: SWFs believed to be heating up oil prices
- Activist News: Challenger sells Northern Gas interests to RREEF, Steel Partners proposes steps to Ezaki Glico, TCI`s manager Chris Hohn asks European trade commissioner to intervene on Japanese deal
- News Briefs: CCX becomes first exchange in the world to license Dow Jones Sustainability Indexes, Advisors Asset Management to distribute structured products linked to BNP Paribas index, Northern Rock revamp due
- ...And finally: Central bank shocked discovering gold-plated steel bars instead of the real thing in its gold vault
- Logon: http://www.opalesque.com/main.php?act=archive
- Fund launches: Opalesque Exclusive: Shore Capital Group to launch fund that will invest in credit crunch opportunities, AUM up 54%, revenues down in 2007, Former ADM executive launches hedge fund
- Performance: Opalesque Exclusive: LODH loses out on Peloton and Focus bets, BlueGold commodity hedge fund gains 30.6% in February, Chesapeake Capital up 17.27% in February, 20.10% YTD, FRM`s Systematic Trading FoHFs up 7.8% in February, comment from FRM`S Directional Trading Sector Head, Clarkson`s 2007 profit rose 23% on shipping demand, hedge fund returned 26.7%, AUM up to $191m, Funds of hedge funds increasingly correlated with world equities, Global macro hedge funds play off the volatility and thrive once more
- Assets: Seattle hedge fund L1 Partners seeks investors
- Opalesque Exclusive: ProFundCom study finds room for improvement in hedge fund marketing campaigns
- Investors: Opalesque`s hedge fund manager Roundtable Series provides unique, new insights into global hedge fund industry, Merril Lynch survey: Single family offices to expand alternatives allocations, Aima`s guide for investors comes from the horses` mouths
- Bear Stearns: JP Morgan pays $2 a share for Bear Stearns, Bear Stearns conference call (video), Suspicious options activity surrounding Bear (video), JP Morgan`s Bear hug, >Fed `closely` watching markets, approves Bear bail out, to provide liquidity as needed, Hedge funds fleeing Bear`s prime broker business, Sources say London traders told to stop dealing with Bear, Bear Stearns near collapse puts Asian firms on guard
- Credit Crunch Update: Carlyle Capital to liquidate what is left, Fitch: Increasing losses in U.S. bank`s home equity portfolios, expected to accelerate in 2008, UBS bows to activist pressure over disclosure of losses, Goldman Sachs to reveal $3bn writedowns, Ambac says has $15bln to pay claims, Debt reckoning: U.S. receives massive margin call, U.S. Fed cuts discount rate, says dealers may borrow
- People: NYC woman-run hedge fund adds to portfolio team, Lawyer appointed to Hedge Fund Association board, Citi names Michael Klein Chairman, John Havens CEO
- Governance: Sarbanes and Oxley say it will take a `good scam` to regulate hedge funds
- Legal: Opalesque Exclusive: Mercer`s reputation is tarnished in the Norshield case, Law firm alerts to new guidance from the Financial Crimes Enforcement Network
- Commodities: HF manager Touradji says commodity `buying orgy` increases risks, MAD Group`s Aggressive Growth Program up 48.9% in February, FourWinds makes two senior hires and opens Hong Kong office, A handful of Wall Street investors blamed for driving up the cost of crude to record highs
- Environmental Trading News: All three remaining presidential candidates favor a mandatory cap-and-trade CO2 system. Is now the time to buy carbon contracts? Can conservation and capitalism mix? CCX or NYMEX? Will it really work?
- Exchanges / Trading: CFTC to up surveillance in reaction to recent trading scandals, NYSE Euronext to purchase CME Group Metals Complex, Celent Report on the evolution of Direct Market Access (DMA) trading services in the US and Europe
- Book: François-Serge Lhabitant publishes new book on stock market liquidity - implications for market microstructure and asset pricing
- Awards: Boutiques lead winners at 2007 InvestHedge Awards, MFA`s John G. Gaine named compliance leader of the year
- Events: Risk principles for asset managers - A review and discussion
- Sovereign Wealth Funds: SWFs believed to be heating up oil prices
- Activist News: Challenger sells Northern Gas interests to RREEF, Steel Partners proposes steps to Ezaki Glico, TCI`s manager Chris Hohn asks European trade commissioner to intervene on Japanese deal
- News Briefs: CCX becomes first exchange in the world to license Dow Jones Sustainability Indexes, Advisors Asset Management to distribute structured products linked to BNP Paribas index, Northern Rock revamp due
- ...And finally: Central bank shocked discovering gold-plated steel bars instead of the real thing in its gold vault
- 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….
indolent IN-duh-luhnt, adjective:
1. Avoiding labor and exertion; habitually idle; lazy; inactive.
2. Conducive to or encouraging laziness or inactivity.
3. Causing little or no pain.
4. Slow to heal, develop, or grow.
2. Conducive to or encouraging laziness or inactivity.
3. Causing little or no pain.
4. Slow to heal, develop, or grow.
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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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