Main News

 

Fed's 'Loan' For Bear Deal Actually a BlackRock Managed Fund <http://seekingalpha.com/article/69757-fed-s-loan-for-bear-deal-actually-a-blackrock-managed-fund?source=i_email> 
by Steve Waldman <http://seekingalpha.com/author/steve-waldman?source=i_email> 

 

Pension funds and their money managers should be required to obtain better information about the riskiness of structured credits in which they invest, the President's Working Group on Financial Markets' recommendations say.

 

Some of Europe's largest pension funds are creating synthetic or passive exposures to alternative strategies as a way to improve risk-adjusted returns.

McCain Says Any Banking Bailout Should Prevent `Systemic Risk'
Bloomberg - USA
The implosion of the US subprime mortgage market, surging defaults and a glut of unsold houses are depressing property prices, and mortgage-backed ...

 

Bank of China Profit Growth Curbed by Subprime Mortgage Loss
Bloomberg - USA
... of China Ltd. posted the smallest full-year profit gain among the nation's 14 publicly traded lenders after writing down subprime mortgage investments. ...
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100 BP rate cut? Fed fund futures now imply a 90% chance that the Fed will slash its base rate to 2% on Tuesday.

 

Hedge funds in limbo while industry develops bespoke system
Financial News Online US - London,UK
Hedge funds, which have been slower than others to embrace the full benefits of technology, are finally waking up to the importance of systems. ...

 

Short-term yields plummet. Yields on three-month T-bills fell below 1% Monday, a level not seen in 50 years, as investors pulled money out of equities and commodities. Three-month bills traded at 0.84%, down 36 BP from Friday's close, after hitting an intra-day low of 0.63%.

 

China: A New Concern Over Fuel Shortages
March 25, 2008 0922 GMT
Chinse media reports concerning diesel shortages in Guangdong suggest the central government’s efforts to rein in China’s energy players have not fully succeeded.
http://www.stratfor.com/analysis/china_3

Geopolitical Diary: The Olympics and Beijing's Tibet Paranoia
March 25, 2008 0224 GMT
U.S. Secretary of State Condoleezza Rice repeated her call for the Chinese government to talk directly with the Dalai Lama to resolve unrest in Tibet after she met with India's foreign minister.
http://www.stratfor.com/geopolitical_diary/geopolitical_diary_olympics_and_beijings_tibet_paranoia

 

Residential Mortgage-Backed Securities
314 U.S. RMBS Ratings Placed On CreditWatch Negative After FGIC CreditWatch Revisions
We placed our ratings on 313 classes from 119 U.S. residential mortgage-backed securities (RMBS) transactions on CreditWatch with negative implications due to the recent CreditWatch revision to negative from developing affecting bond insurer Financial Guaranty Insurance Co. (FGIC; A/Watch Neg/--). Concurrently, we lowered our rating on class A from Home Equity Loan Trust 2004-HS3 to 'A' from 'AAA' and kept it on CreditWatch negative. FGIC guarantees all classes affected by these actions.
To learn more, click or copy and paste the URL below:
http://standardandpoors.rsys1.net/servlet/cc5?kHiQABBSQTVsLgHxhilpuHQJhuV2VA

Value Partners, Hedge Fund Manager, Says 2007 Profit Surges 66%
Bloomberg.com Tue, 25 Mar 2008 11:36 AM PDT
March 26 (Bloomberg) -- Value Partners Group Ltd. , Asia's second-largest hedge fund manager, said 2007 profit surged 66 percent on growing assets.

 

Alternatives oil Shell pension's success
http://www.ipe.com/news/Alternatives_oil_Shell_pension_s_success_27490.php

 

Investors will be on the hunt for alternatives managers more than any other type of manager this year, according to a new survey of consultants' expected searches for 2008.

 

China wealth fund buys into Visa's IPO
March 25, 2008 06:54 AM ET
BEIJING (Reuters) - China's sovereign wealth fund has taken a
stake in Visa Inc , according to a media report on Tuesday,
dipping its toe back into the market as Beijing agonizes over
whether to be more aggressive in its overseas investments.
http://links.reuters.com/r/DFGA9/MHRRS/O4INZ/CD4XJ/P7AH0/YT/t

 

Bailout Nation

by Barry Ritholtz

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Yield Curve Corner

 

The Bernanke Bull Market
Forbes - NY,USA
Investors should kneel to give thanks that Fed Chairman Ben Bernanke and his accomplices acted so dramatically. The Fed became the lender of last resort by ...
See all stories on this topic

Bernanke faces dissent in his ranks
Salt Lake Tribune - United States
By Jeannine Aversa AP Some central bank colleagues have expressed concerns about Fed boss Ben Bernanke's decisions to aggressively cut interest rates. ...
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Ben Bernanke Is My Kind of Guy
National Review Online - New York,NY,USA
By Larry Kudlow I have really learned to like Ben Bernanke. He’s the man. And his interest-rate cuts are vastly more effective than the so-called ...

 

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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/TRCpancho085_GJ.jpg

 

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Iranian Situation and Other Man Made Disasters

 

Iran sets late April for run-off
AP via Yahoo! News Mon, 24 Mar 2008 1:12 PM PDT
Iran will hold run-off parliamentary elections on April 25, state radio said Monday.

 

Video: American singing  "Aghe- ye Rooz"  & "Del- Asire" by Faramarz Aslani

 

Video: Iran's hidden $3B art collection (from former Iranian queen's collection)

 

Iranian police chief caught with 6 naked prostitutes!!!

 

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Opalesque’s Corner

 

- Opalesque Exclusive:  Templeton offspring and hedge fund manager of value investing fund says maximum pessimism is optimal time to hunt
- Fund launches: Former Lehman executive David Sherr to launch $1bln credit hedge fund, Former Soros portfolio manager prepares energy hedge fund, Anchorage Capital launches `Guitar Fund` to invest in vintage instruments, New Sarasin fund tries to capitalize on commodity boom, Former JP Morgan analyst preps healthcare hedge fund, Halcyon plots distressed real estate fund, Vision Capital Advisors and partner to launch real estate fund
- New Shops: BlackRock and Highfields launch new company focusing on distressed mortgage loans, Former Cerberus MD sets up distressed shop and fund
- Strategies: China manager confident of bounce back, offers investors 50% fee reduction if return less than 10% next 12 months, Top managers: value stocks look promising
- Performance: Opalesque Exclusives: Commodity fund Krom River up 14.77% in February, YTD +24.28%, India equity long-short fund not doing well so far this year
- Fund profile: Red Kite`s born-again experience, returns 15% in January and 20% in February
- Listed Funds: Opalesque Exclusives: Update: Dexion has raised GBP78m, YTD performance +5.07%, Bramdean Alternative recovers from January
- Bank loans: Carrington asks investors for $200m loan to replace bank loans, Hedge funds ask investors to help repel banks
- M&A: Trafalgar Asset Managers targeted by Goldman Sachs fund
- Seeders: Buyout shops, hedge funds join the IPO SPACS game, Blackstone to expand seeding fund with two new funds
- Investors: Tuckerbrook to open hedge funds to retail investors, LatAm hedge fund to target institutions
- Trends: Hedge funds finally waking up to the importance of bespoke systems, Biotechnology remains most volatile sector
- CASAM publishes 2007 industry report on hedge funds and commodity trading advisers
- Interviews: Merrill Lynch`s co-head of global financing business on prime brokers` operational risks,  Jeremy Siegel on Bear Stearns, rate cuts and the looming threat of inflation
- Niche investing: Britain`s woodland sector is booming
- Bear Stearns Update: JPMorgan agrees to quadruple Bear Stearns bid, JPMorgan offers Bear Stearns staff bonuses, SEC probing options activity in Bear Stearns, Fed expands role by aiding JPMorgan`s purchase of Bear Stearns, BlackRock to oversee and sell assets, Heavy hand of the Fed (video), Hedge funds leaving Bear may be forced to cut leverage, JP Morgan acts to calm hedge fund clients
- Credit Crunch Update: Hedge funds seen keeping tight hold of borrowing, Merrill Lynch sues Security Capital Assurance for credit default swaps, Investec faces up to GBP60m ($118m) sub-prime hit, McKinsey report: Coping with the credit crunch: Opportunities for corporate banking in Europe
- Institutions: Mass PRIM plans $900m natural resources RFP, UK universities fund commits to clone strategy, State Street to run mandate, Calpers hedges against rising inflation
- Environmental Trading News: Carbon trading summit to focus on structuring carbon credit investments and emissions trading strategies, Report: Solar bubble to burst in 2009 as supply exceeds demand
- Commodities: Commodities tumbled as investors cashed out, Hedge funds cut commodities exposure, `Precious` profits (video)
- Exchanges: CME made deal with Nymex shareholder
- Regulators: Barney Frank calls for Fed to act as financial risk regulator, SEC to recognize foreign market rules,
- SocGen Update: SocGen fined Eur300.000 by market regulator in Amber hedge fund case, Societe Generale vows vigorous challenge to US law suit
- People: Opalesque Exclusive: Thomas Hunger leaves CCPM for Deutsche Bank, Executive director of hedge fund strategies leaves Goldman Sachs AM, Quadrangle hires Alice Ruth as CIO, Equities/alternatives boss D`Souza said to leave Merrill Lynch, Two new executive partners at MPM, Two investment managers join GAM`s multi-manager team in New York,  Gerken taps marketing director
- Europe: UK Hedge fund `accused over rumours` concerning HBOS, Halifax (HBOS) hit by hedge fund short selling and emergency funding rumours, British and Irish banks prepare for legal action against hedge funds,  Credit Suisse says trader misconduct led to losses
- Africa: Sub-Saharan Africa may be the new China
- Asia: Credit crunch to hit Asian hedge funds in Q1
- Australasia: Opalesque publishes Australia Hedge Fund Manager Roundtable - Local managers outperform, but capacity may not be there for long, Australian hedge funds deny spreading market rumours
- Sovereign Wealth Funds: US, Singapore, Abu Dhabi agree on wealth fund principles,
- Activist News: Pershing Square lends $42.5m to Borders Group, CBRE gains as hedge fund ups stake, SpinVox secures big name backers
- News Briefs:Citigroup cuts 2,000 jobs, Hedge Fund for Habitat, NYC volunteer-builders also raise $20,000 for affordable homes
- And Finally. Even for the UK, that`s a long line: Wonder cash machine pays out double
- Logon: http://www.opalesque.com/index.php?act=archive

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Misc. Items of Interest

 

China's Three Gorges Dam: An Environmental Catastrophe?
Scientific American - USA
"We can't lower our guard," Wang Xiaofeng, who oversees the project for China's State Council, said during a meeting of Chinese scientists and government ...
See all stories on this topic

 

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Funnies, Facts, Quotes, etc….

 

repine ih-PINE, intransitive verb:

1. To feel or express discontent.
2. To long for 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)

HFRX Indices https://www.hedgefundresearch.com/hfrx_reg/index.php?fuse=login&1170880431

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Regulatory Info

 

 

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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.