Archive: 06/03/2008
Main News
Hedge Funds Cut Oil Bets as Prices Rose, CFTC Probed (Update2)<http://www.hedgefund-index.com/newstoday.asp>
Source: Bloomberg
Hedge-fund managers and speculators reduced bets on higher oil prices by 80 percent since July as crude futures rose to records and U.S. regulators started investigating trading, government data show. More...<http://www.hedgefund-index.com/newstoday.asp>
Source: Bloomberg
Hedge-fund managers and speculators reduced bets on higher oil prices by 80 percent since July as crude futures rose to records and U.S. regulators started investigating trading, government data show. More...<http://www.hedgefund-index.com/newstoday.asp>
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First Comes the Swap. Then It’s the Knives. June 2, 2008, 7:25 am ... But, The New York Times Gretchen Morgenson writes, the legal battle between UBS, ... dealbook.blogs.nytimes.com/2008/06/02/first-comes-the-swap-then-its-the-knives/ - 39k - 9 |
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Hedge Funds: Activist tool threatened as judge weighs disclosure requirements. The $2 trillion hedge fund industry is worried that activist investors may be ... |
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Feb 20, 2008 ... ``It's a double-edged sword, having huge size in the markets,'' ..... Recent Pimco filings refer to Citadel as ``Other Market Participant. ... |
Investors share GMAC and Chrysler woes
Jun 01 2008 23:37
The fallout from the troubles at Chrysler and GMAC could extend beyond Cerberus Capital Management as it has emerged that the buy-out firm has sold "significantly" more than half its equity to about 90 investors Read more »
Jun 01 2008 23:37
The fallout from the troubles at Chrysler and GMAC could extend beyond Cerberus Capital Management as it has emerged that the buy-out firm has sold "significantly" more than half its equity to about 90 investors Read more »
The rate of hedge fund closures increased significantly last year and is expected to rise further, according to one of ...
eFinancial News Sun, 01 Jun 2008 9:06 PM PDT
The rate of hedge fund closures increased significantly last year and is expected to rise further, according to one of the industry’s largest investors. The warning is the latest evidence that absolute return investors are facing tougher markets.
eFinancial News Sun, 01 Jun 2008 9:06 PM PDT
The rate of hedge fund closures increased significantly last year and is expected to rise further, according to one of the industry’s largest investors. The warning is the latest evidence that absolute return investors are facing tougher markets.
Small Talk: Leading AIM group hit as Pandit fund pulls out of talks
Independent Sun, 01 Jun 2008 4:20 PM PDT
The tremors from the credit crunch continue to hit companies listed on the Alternative Investment Market. The latest group to feel the after-shocks is a company that was fêted last year as the top international group on AIM. Leadcom Integrated Solutions suffered last week as a Citigroup-backed hedge fund walked away from providing a $15m (£7.6m) cash injection after two months of talks, blaming ...
Independent Sun, 01 Jun 2008 4:20 PM PDT
The tremors from the credit crunch continue to hit companies listed on the Alternative Investment Market. The latest group to feel the after-shocks is a company that was fêted last year as the top international group on AIM. Leadcom Integrated Solutions suffered last week as a Citigroup-backed hedge fund walked away from providing a $15m (£7.6m) cash injection after two months of talks, blaming ...
Monday , 02 Jun 2008
Cost pressures on mines have led to an easing on the TSX, bringing stocks down from a record high, as analysts cautious about some miners’ future profits.
Cost pressures on mines have led to an easing on the TSX, bringing stocks down from a record high, as analysts cautious about some miners’ future profits.
Soros To Testify Tuesday On Capitol Hill
CBS News Mon, 02 Jun 2008 9:15 AM PDT
Controversial hedge fund manager George Soros will testify Tuesday morning before the Senate Commerce Committee. Soros will appear at a hearing exploring energy market manipulation, along with Terrence Duffy, the executive chairman of the Chicago Mercantile Exchange. Listed as the 80th richest person in the world by Forbes Magazine, Soros has been a major benefactor to many liberal causes ...
CBS News Mon, 02 Jun 2008 9:15 AM PDT
Controversial hedge fund manager George Soros will testify Tuesday morning before the Senate Commerce Committee. Soros will appear at a hearing exploring energy market manipulation, along with Terrence Duffy, the executive chairman of the Chicago Mercantile Exchange. Listed as the 80th richest person in the world by Forbes Magazine, Soros has been a major benefactor to many liberal causes ...
Large HFs May Be Too Risky
Large hedge funds may be risky due to investments in illiquid assets, according to Virginia Parker, ceo of Parker Global Strategies LLC.
Large hedge funds may be risky due to investments in illiquid assets, according to Virginia Parker, ceo of Parker Global Strategies LLC.
Wood Creek-SageCrest Redemption Dispute Heads to Court
By: Jacob Bunge, Financial Correspondent
Posted: 06/02/2008 2:52:07 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=legl&story=legl2233.html
By: Jacob Bunge, Financial Correspondent
Posted: 06/02/2008 2:52:07 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=legl&story=legl2233.html
Alternatives Searches Up 20% Globally
Manager search activity in alternative asset classes continues to rise globally as institutional investors seek to diversify their portfolios in the face of unstable markets.Read more
Manager search activity in alternative asset classes continues to rise globally as institutional investors seek to diversify their portfolios in the face of unstable markets.Read more
UK – Pension funds recorded their fourth consecutive month of fund surpluses at the end of May, but Aon has warned the effects of inflation will continue to drive volatility.
Booming Canada feels little of mild recession
Canada may be in the midst of a recession, though soaring exports of farm and fuel commodities mean few are feeling the pinch. The economy contracted 0.3% in the first quarter, and many analysts expect another small slide in GDP in the current quarter. The contraction comes at a time when unemployment is nearly the lowest in three decades, personal income is up, corporate profits are fat and government treasuries are filling with tax revenue. The Globe and Mail (Toronto) (30 May.)
Canada may be in the midst of a recession, though soaring exports of farm and fuel commodities mean few are feeling the pinch. The economy contracted 0.3% in the first quarter, and many analysts expect another small slide in GDP in the current quarter. The contraction comes at a time when unemployment is nearly the lowest in three decades, personal income is up, corporate profits are fat and government treasuries are filling with tax revenue. The Globe and Mail (Toronto) (30 May.)
Argentina hides slow default on bonds
Presidents Nestor and Cristina Kirchner have quietly enabled Argentina to start defaulting on its external debt again by putting a friend in charge of collecting and reporting inflation data. The official consumer inflation rate is 8.9%. That is the rate used to set payments on inflation-adjusted bonds. The true inflation rate is more than 25%, said union-protected employees of the statistics office. "Argentina is engineering a partial default on its domestic debt," said Carmen Reinhart, a professor at the University of Maryland
Presidents Nestor and Cristina Kirchner have quietly enabled Argentina to start defaulting on its external debt again by putting a friend in charge of collecting and reporting inflation data. The official consumer inflation rate is 8.9%. That is the rate used to set payments on inflation-adjusted bonds. The true inflation rate is more than 25%, said union-protected employees of the statistics office. "Argentina is engineering a partial default on its domestic debt," said Carmen Reinhart, a professor at the University of Maryland
Turning the Tables: RiskMetrics's Head Faces His Day of ...
Wall Street Journal - USA
By JOANN S. LUBLIN Ethan Berman runs RiskMetrics Group Inc., which makes money by judging others. Now, the chief executive is preparing to be judged himself ...
Wall Street Journal - USA
By JOANN S. LUBLIN Ethan Berman runs RiskMetrics Group Inc., which makes money by judging others. Now, the chief executive is preparing to be judged himself ...
JPMorgan launches 130/30 exchange traded note
JPMorgan Chase is offering a first-of-its-kind exchange traded note that offers both long and short exposure to large caps. Open-end mutual funds also have been putting to work the 130/30 strategies generally associated with hedge funds. Seeking Alpha (01 Jun.)
JPMorgan Chase is offering a first-of-its-kind exchange traded note that offers both long and short exposure to large caps. Open-end mutual funds also have been putting to work the 130/30 strategies generally associated with hedge funds. Seeking Alpha (01 Jun.)
Putin Denies Knowing of Banned Hedge-Fund Manager Bill Browder
Bloomberg - Monday June 02, 09:30 BST
Bloomberg - Monday June 02, 09:30 BST
Hedge Fund Fees and Liquidity: Setting it Straight
Seeking Alpha - New York,NY,USA
The way it's being depicted in the media, it's almost as if someone woke up and realized, "Hey, if hedge funds have illiquid investments kind of like ...
Seeking Alpha - New York,NY,USA
The way it's being depicted in the media, it's almost as if someone woke up and realized, "Hey, if hedge funds have illiquid investments kind of like ...
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Yield Curve Corner
Forex - Major currencies stay range bound; US data eyed
Forbes - NY,USA
In addition to the data due out this week, Tuesday's speech by Fed Chairman Ben Bernanke will be crucial. 'The importance of Bernanke's speech lies in the ...
Forbes - NY,USA
In addition to the data due out this week, Tuesday's speech by Fed Chairman Ben Bernanke will be crucial. 'The importance of Bernanke's speech lies in the ...
The Outlook
Boston Herald - United States
Fed of the class: Federal Reserve Chairman Ben Bernanke speaks at Harvard University’s Class Day, a student-focused, less-formal celebration of the group ...
Boston Herald - United States
Fed of the class: Federal Reserve Chairman Ben Bernanke speaks at Harvard University’s Class Day, a student-focused, less-formal celebration of the group ...
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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/VSHcerroazul154_G10.jpg
Atlantic season's 1st tropical storm
CNN International - USA
The government of Belize issued a tropical storm warning for the nation's coast, and the government of Mexico issued a tropical storm warning from Cabo ...
CNN International - USA
The government of Belize issued a tropical storm warning for the nation's coast, and the government of Mexico issued a tropical storm warning from Cabo ...
"Confident" China rules out post-quake epidemics
June 02, 2008 06:06 AM ET
YONGAN, China (Reuters) - Chin said on Monday it could guarantee
there would be no epidemics in the earthquake zone, while some
survivors complained their farmland was being bulldozed to make
way for temporary housing.
http://links.reuters.com/r/F367J/V2YI4/QXQPM/22TJK/SKO0Q/YT/t
June 02, 2008 06:06 AM ET
YONGAN, China (Reuters) - Chin said on Monday it could guarantee
there would be no epidemics in the earthquake zone, while some
survivors complained their farmland was being bulldozed to make
way for temporary housing.
http://links.reuters.com/r/F367J/V2YI4/QXQPM/22TJK/SKO0Q/YT/t
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Iranian Situation and Other Man Made Disasters
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Iran: Tackling Refining Woes in Name Only. June 2, 2008 | 1956 GMT. Iran's Lavan Island oil refinery. BEHROUZ MEHRI/AFP/Getty Images ... |
McCain calls for divestment campaign against Iran
Reuters via Yahoo! News Mon, 02 Jun 2008 9:23 AM PDT
The world should launch a divestment campaign against Iran to curb its nuclear ambitions and reduce potential threats to Israel's security, Republican U.S. presidential candidate John McCain said on Monday.
Reuters via Yahoo! News Mon, 02 Jun 2008 9:23 AM PDT
The world should launch a divestment campaign against Iran to curb its nuclear ambitions and reduce potential threats to Israel's security, Republican U.S. presidential candidate John McCain said on Monday.
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Iran: Reversals on the Foreign Policy Front Manifest at Home. June 2, 2008 | 1911 GMT. Iranians reading newspaper at newsstand. ATTA KENARE/AFP/Getty Images ... |
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Opalesque’s Corner
- Fund launches: Opalesque Exclusive: UBP launches new global distressed FoHFs - open to subscriptions until August, New funds emerge to buy debt at depressed prices, Avenue Europe raising $2.3bln fund, Juno Mother Earth to launch commodity equity fund this summer
- Opalesque Exclusive: Former Harvard Business School professor opens hedge fund that applies insurance strategies on financial risk through equity index options, defies `alpha`- concept
- Sagecrest II hedge fund`s investors in revolt
- Fund closures: Bear Stearns L/S U.S. equity fund to shut down, Tuckerbrook investors to vote on future of SB Global Distressed fund
- Performance: Man: Record results in turbulent markets (video), Gradient`s founders share GBP200m
- Indices: Parker FX Index down 0.01% in April, top performer: Putnam Investments Currency Fund up +7.89%
- Trends: Hedge funds return to buying solid credits, Quants in recovery from `meltdown`, if affected at all, according to Aspect Capital`s Anthony Todd, Liquidity levels hit funds of hedge funds
- Strategies: Hedge fund Three Arch Investors bets on rising prices for land, Comment: Credit crisis unveiled HF`s trading secret: luck - Riskdata
- People: Scotia Capital adds mining, hedge fund talents Jerrold Annett and Russell Starr, Cedar Ridge plans to hire two for investment analysis, risk, Culross hires new COO, Former Eaton Vance chief James B. Hawkes joins Central Park board, Citigroup loses top broker Richard Zinman and team to Credit Suisse, SocGen replaces investment bank chief Mustier with Bear`s Michel Peretie
- Views: Opalesque Exclusive: UBS tax evasion case - Is private banking under threat?
- Risk Management: Fair value depicts risk more accurately, Research: Volatility futures trading could stabilize UK markets
- Legal: Judge weighs in on bankruptcy disclosure: HFs and other investors constitute statutory committee, Comment: Refco`s top rat: Squeak, squeak, squeak
- Credit Crunch Update: Merrill`s Fleming says banking M&A to accelerate in six months, Greenspan doesn`t expect more market bubbles for a long time, FT Comment: `Real money people` to benefit from credit crisis` next big wave
- Rating Agencies: Moody`s methodology change provokes wave of CDO downgrades
- Regulators: Citigroup`s hedge funds draw SEC scrutiny, filing shows, International regulators plan restraints on banks` complex debt
- Commodities: Hedge funds cut bets on oil as prices rose, decline may complicate CFTC's probe, FSA confirms it will work with CFTC on oil probe, CFTC`s focus shifts to cotton-futures markets, George Soros, CME top executive to testify on energy manipulation, OPEC president insists speculation behind price rise, Oil scenarios (video), The link between monetary policy and commodity prices, Exchange traded commodities: Novel product sparks `phenomenal` interest
- Dollar: Institutional investors buying dollar when hedge funds bet against it - are they on to something?
- Exchanges: Doubts grow over CME`s takeover of Nymex, JSE to list pan-African stocks, Comment: The battle of the bourses
- Institutions: Finnish pension funds` hedge fund exposure to be scrutinized
- Europe: Putin says `never heard of `banned hedge fund manager Bill Browder
- Asia: 3A expects its Asian FoHF to grow threefold due to increasing European interest in Asian funds, Jesper Koll, Tantallon, on Japan`s positive economic outlook (videos)
- Australasia: Australia`s AIMA defends hedge funds` reputation, plays the diversity card, Investors avoid alternative investments in Australia
- 130/30: No shortcuts here: 130/30 funds require a long, hard look
- Events: Hedge Funds Care Chicago gala raises $850K, Hedge funds bet that less money will be raised at this year`s ARK (Absolute Return for Kids) dinner on Thursday
- SWFs: Sovereign funds provided more than half the equity for BlackRock`s UBS deal - is mortgage market recovering?
- Activist News: Icahn gets antitrust go-ahead for Yahoo stock buy, Conseco declines Steel Partners` proposal to increase stake, J-Power bows to TCI call for non-executives
- News Briefs: Australia becomes a magnet for banker `refugees`, Henry Paulson suggests Gulf will keep dollar link, Halbis, HSBC unit, has closed weak areas in favour of emerging markets, Eurex admits first local broker from Dubai
- ...And finally: Japan: Homeless woman sneaked into a man`s house and lived undetected in his wardrobe for an entire year
- Logon: http://www.opalesque.com/index.php?act=archive
- Opalesque Exclusive: Former Harvard Business School professor opens hedge fund that applies insurance strategies on financial risk through equity index options, defies `alpha`- concept
- Sagecrest II hedge fund`s investors in revolt
- Fund closures: Bear Stearns L/S U.S. equity fund to shut down, Tuckerbrook investors to vote on future of SB Global Distressed fund
- Performance: Man: Record results in turbulent markets (video), Gradient`s founders share GBP200m
- Indices: Parker FX Index down 0.01% in April, top performer: Putnam Investments Currency Fund up +7.89%
- Trends: Hedge funds return to buying solid credits, Quants in recovery from `meltdown`, if affected at all, according to Aspect Capital`s Anthony Todd, Liquidity levels hit funds of hedge funds
- Strategies: Hedge fund Three Arch Investors bets on rising prices for land, Comment: Credit crisis unveiled HF`s trading secret: luck - Riskdata
- People: Scotia Capital adds mining, hedge fund talents Jerrold Annett and Russell Starr, Cedar Ridge plans to hire two for investment analysis, risk, Culross hires new COO, Former Eaton Vance chief James B. Hawkes joins Central Park board, Citigroup loses top broker Richard Zinman and team to Credit Suisse, SocGen replaces investment bank chief Mustier with Bear`s Michel Peretie
- Views: Opalesque Exclusive: UBS tax evasion case - Is private banking under threat?
- Risk Management: Fair value depicts risk more accurately, Research: Volatility futures trading could stabilize UK markets
- Legal: Judge weighs in on bankruptcy disclosure: HFs and other investors constitute statutory committee, Comment: Refco`s top rat: Squeak, squeak, squeak
- Credit Crunch Update: Merrill`s Fleming says banking M&A to accelerate in six months, Greenspan doesn`t expect more market bubbles for a long time, FT Comment: `Real money people` to benefit from credit crisis` next big wave
- Rating Agencies: Moody`s methodology change provokes wave of CDO downgrades
- Regulators: Citigroup`s hedge funds draw SEC scrutiny, filing shows, International regulators plan restraints on banks` complex debt
- Commodities: Hedge funds cut bets on oil as prices rose, decline may complicate CFTC's probe, FSA confirms it will work with CFTC on oil probe, CFTC`s focus shifts to cotton-futures markets, George Soros, CME top executive to testify on energy manipulation, OPEC president insists speculation behind price rise, Oil scenarios (video), The link between monetary policy and commodity prices, Exchange traded commodities: Novel product sparks `phenomenal` interest
- Dollar: Institutional investors buying dollar when hedge funds bet against it - are they on to something?
- Exchanges: Doubts grow over CME`s takeover of Nymex, JSE to list pan-African stocks, Comment: The battle of the bourses
- Institutions: Finnish pension funds` hedge fund exposure to be scrutinized
- Europe: Putin says `never heard of `banned hedge fund manager Bill Browder
- Asia: 3A expects its Asian FoHF to grow threefold due to increasing European interest in Asian funds, Jesper Koll, Tantallon, on Japan`s positive economic outlook (videos)
- Australasia: Australia`s AIMA defends hedge funds` reputation, plays the diversity card, Investors avoid alternative investments in Australia
- 130/30: No shortcuts here: 130/30 funds require a long, hard look
- Events: Hedge Funds Care Chicago gala raises $850K, Hedge funds bet that less money will be raised at this year`s ARK (Absolute Return for Kids) dinner on Thursday
- SWFs: Sovereign funds provided more than half the equity for BlackRock`s UBS deal - is mortgage market recovering?
- Activist News: Icahn gets antitrust go-ahead for Yahoo stock buy, Conseco declines Steel Partners` proposal to increase stake, J-Power bows to TCI call for non-executives
- News Briefs: Australia becomes a magnet for banker `refugees`, Henry Paulson suggests Gulf will keep dollar link, Halbis, HSBC unit, has closed weak areas in favour of emerging markets, Eurex admits first local broker from Dubai
- ...And finally: Japan: Homeless woman sneaked into a man`s house and lived undetected in his wardrobe for an entire year
- Logon: http://www.opalesque.com/index.php?act=archive
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Misc. Items of Interest
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Funnies, Facts, Quotes, etc….
countermand KOWN-tuhr-mand; kown-tuhr-MAND, transitive verb:
1. To revoke (a former command); to cancel or rescind by giving an order contrary to one previously given.
2. To recall or order back by a contrary order.
3. A contrary order.
4. Revocation of a former order or command.
2. To recall or order back by a contrary order.
3. A contrary order.
4. Revocation of a former order or command.
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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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