Archive: 06/05/2008
Main News
Good crisis management might be good for your company, but it could cost you your job
Shahin Shojai, Global Head of Strategic Research, Capco
UPDATE 1-AIG Investments reaches hedge fund investment pact
Reuters - USA
N: Quote, Profile, Research) asset management division has reached a joint venture agreement with Larch Lane to make seed funding investments in hedge funds ...
Reuters - USA
N: Quote, Profile, Research) asset management division has reached a joint venture agreement with Larch Lane to make seed funding investments in hedge funds ...
Drake closes two more hedge funds
Financial News - London,England,UK
Drake Capital Management is to return roughly $4bn to investors within the next year, after deciding to wind down two additional hedge funds this week. ...
See all stories on this topic
Financial News - London,England,UK
Drake Capital Management is to return roughly $4bn to investors within the next year, after deciding to wind down two additional hedge funds this week. ...
See all stories on this topic
Goldman: Hedge Funds Short Financials
By: Emma Trincal, Senior Financial Correspondent
Posted: 06/04/2008 3:33:18 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=peop&story=peop3498.html
India: Congress Risks a Fuel Price Hike
June 4, 2008 1529 GMT
InIndia announced moderate increases in domestic fuel prices June 4. The move is meant to ease pressure on refiners but is already sparking a political backlash.
http://www.stratfor.com/analysis/india_congress_risks_fuel_price_hike
June 4, 2008 1529 GMT
InIndia announced moderate increases in domestic fuel prices June 4. The move is meant to ease pressure on refiners but is already sparking a political backlash.
http://www.stratfor.com/analysis/india_congress_risks_fuel_price_hike
Carl Icahn took another swipe at Yahoo, saying in a letter that the company's management enacted a severance plan he believed effectively sabotaged a Microsoft bid in order to protect their own positions. "I am amazed at the length Jerry Yang and the Yahooo board have gone in order to entrench their positions and keep shareholders from deciding if they wished to sell to Microsoft," he wrote. http://wsj.com/technology?mod=djemalertTECH
REGULATORS WARN ON RISKS TO GLOBAL PAYMENTS AND SETTLEMENT SYSTEM
Financial regulators are warning that potential risks to the interconnected and interdependent global payment and settlement infrastructure are not taken into account in current disaster recovery and crisis management procedures.
More on this story: http://www.finextra.com/fullstory.asp?id=18548
Financial regulators are warning that potential risks to the interconnected and interdependent global payment and settlement infrastructure are not taken into account in current disaster recovery and crisis management procedures.
More on this story: http://www.finextra.com/fullstory.asp?id=18548
Bankruptcy filings in the federal courts for the 12-month period ending March 31, 2008, exceeded 900,000, according to statistics released Tuesday by the Administrative Office of the U.S. Courts.
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Lehman Battles an Insurgent Investor By LOUISE STORY For eight months, David Einhorn, a hedge fund manager, has pilloried the venerable Lehman Brothers in an effort to drive down the bank’s stock price, which he is betting against. |
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FT.com - Financial Services
Lehman hedges lose $500m to $700m
Jun 04 2008 00:04
Lehman Brothers lost $500m-$700m on certain hedging positions in the second quarter, contributing to what is expected to be a larger-than-anticipated loss that may lead the bank to raise more capital by selling a stake to an outside investor Read more »
Lehman hedges lose $500m to $700m
Jun 04 2008 00:04
Lehman Brothers lost $500m-$700m on certain hedging positions in the second quarter, contributing to what is expected to be a larger-than-anticipated loss that may lead the bank to raise more capital by selling a stake to an outside investor Read more »
Unwinding Hot Money Creates Vicious Cycle: Bridgewater
By: Chidem Kurdas, New York Bureau Chief
Posted: 06/04/2008 11:42:31 AM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=peop&story=peop3497.html
By: Chidem Kurdas, New York Bureau Chief
Posted: 06/04/2008 11:42:31 AM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=peop&story=peop3497.html
Hearing on Energy Manipulation: Soros as Headliner
By: Christopher Faille, Senior Financial Correspondent
Posted: 06/04/2008 11:07:43 AM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1284.html
By: Christopher Faille, Senior Financial Correspondent
Posted: 06/04/2008 11:07:43 AM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1284.html
Centaurus, Carlyle Carve Gas Caverns as Traders Bet Prices Rise
HF Closures To Continue
The rate of hedge fund closures increased significantly last year and is expected to rise further, citing one of the industry’s largest investors.
The rate of hedge fund closures increased significantly last year and is expected to rise further, citing one of the industry’s largest investors.
Posted: 03 Jun 2008 09:45 AM CDT
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Yield Curve Corner
Bernanke: Fed does not want dollar any weaker
Oil and gold prices fell sharply as Federal Reserve Chairman Ben Bernanke seemed to draw a line under the U.S. dollar's weakness. Bernanke said in a speech in Barcelona, Spain, that the Fed does not want the dollar to weaken further because of the threat that it will worsen inflation. The Fed would "formulate policy to guard against risks to both parts of our dual mandate, including the risk of an erosion in longer-term inflation expectations," he said. The dollar is down 10% in the past year. Financial Times (03 Jun.) , Bloomberg (04 Jun.)
Oil and gold prices fell sharply as Federal Reserve Chairman Ben Bernanke seemed to draw a line under the U.S. dollar's weakness. Bernanke said in a speech in Barcelona, Spain, that the Fed does not want the dollar to weaken further because of the threat that it will worsen inflation. The Fed would "formulate policy to guard against risks to both parts of our dual mandate, including the risk of an erosion in longer-term inflation expectations," he said. The dollar is down 10% in the past year. Financial Times (03 Jun.) , Bloomberg (04 Jun.)
Dollar holds big gains after Bernanke warning
Reuters - USA
Bernanke said the weak US dollar is adding to price pressures and that the Fed along with the US Treasury is carefully monitoring currency markets, ...
Reuters - USA
Bernanke said the weak US dollar is adding to price pressures and that the Fed along with the US Treasury is carefully monitoring currency markets, ...
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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:
Earthquake has limited effect on China's economy
The earthquake that devastated China's Sichuan province in May likely did little to the country's overall economy, economists said. The area hardest hit by the quake is home to relatively few people, and those residents, any of whom are impoverished farmers, account for an even smaller percentage of the country's economic output. "I don't see any huge effect," said Oded Shenkar, a professor at Ohio State University. "You're going to lose some economic activity, but pretty quickly you're going to see new economic activity: construction, redevelopment and so forth." The New York Times (04 Jun.)
The earthquake that devastated China's Sichuan province in May likely did little to the country's overall economy, economists said. The area hardest hit by the quake is home to relatively few people, and those residents, any of whom are impoverished farmers, account for an even smaller percentage of the country's economic output. "I don't see any huge effect," said Oded Shenkar, a professor at Ohio State University. "You're going to lose some economic activity, but pretty quickly you're going to see new economic activity: construction, redevelopment and so forth." The New York Times (04 Jun.)
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Iranian Situation and Other Man Made Disasters
Iran under fire at IAEA board meeting
AFP via Yahoo! News Wed, 04 Jun 2008 11:05 AM PDT
Iran came under heavy fire from western countries here Wednesday for failing to answer allegations that it had been trying to build a nuclear bomb until a few years ago.
AFP via Yahoo! News Wed, 04 Jun 2008 11:05 AM PDT
Iran came under heavy fire from western countries here Wednesday for failing to answer allegations that it had been trying to build a nuclear bomb until a few years ago.
Obama vows to stop Iran from having nuclear arms
Reuters via Yahoo! News Wed, 04 Jun 2008 8:17 AM PDT
Democratic presidential candidate Barack Obama said on Wednesday Iran posed a serious threat in the Middle East and vowed to stop it from acquiring a nuclear weapon.
Reuters via Yahoo! News Wed, 04 Jun 2008 8:17 AM PDT
Democratic presidential candidate Barack Obama said on Wednesday Iran posed a serious threat in the Middle East and vowed to stop it from acquiring a nuclear weapon.
Iran: U.S.-Iraqi Deal Would 'Enslave' Iraqis -- Rafsanjani
June 4, 2008 1443 GMT
Iranian Expediency Council Chairman Akbar Hashemi Rafsanjani on June 4 said the Islamic world...
http://www.stratfor.com/sitrep/iran_u_s_iraqi_deal_would_enslave_iraqis_rafsanjani
June 4, 2008 1443 GMT
Iranian Expediency Council Chairman Akbar Hashemi Rafsanjani on June 4 said the Islamic world...
http://www.stratfor.com/sitrep/iran_u_s_iraqi_deal_would_enslave_iraqis_rafsanjani
Iran: A Political Power Struggle Breaks Into Public View
June 4, 2008 1250 GMT
The temporary suspension of the Fars news agency this week points to an intensifying power struggle within the Iranian government. The rift between President Mahmoud Ahmadinejad and the clerics has far-reaching implications, as Middle East analyst Kamran Bokhari explains.
http://www.stratfor.com/podcast/iran_political_power_struggle_breaks_public_view
June 4, 2008 1250 GMT
The temporary suspension of the Fars news agency this week points to an intensifying power struggle within the Iranian government. The rift between President Mahmoud Ahmadinejad and the clerics has far-reaching implications, as Middle East analyst Kamran Bokhari explains.
http://www.stratfor.com/podcast/iran_political_power_struggle_breaks_public_view
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Opalesque’s Corner
- Opalesque Exclusive: Hipsen International Holdings Ltd set to grab Opalesque domains in Asia - will your domain be next?
- Fund launches: International Assets to launch hedge fund investing in equity/debt in Africa and the Middle East
- Performance: Och-Ziff funds continued recovery in May, Master Fund up 1.1%, Europe Master Fund up 1.8%, Triskele China hedge fund beats the pessimists, up 55% in last 12 months but rocky start of year, Julius Baer`s assets under pressure, denies rumour it is considering partial sale of GAM HF unit
- Indices: ASAM CISDM Indices April 2008: HF index up 2.13%, CTA down 0.46%
- Listings: B&G Holding appoints UBS as sponsor of creation of Sterling share class and of dual listing in London
- JV: Echelon Capital and Red Rocks Capital form strategic alliance to bring Red Rocks' listed PE strategy to the institutional market
- Opalesque Exclusive: GAIM panel preview, looking at self regulation on both sides of the Atlantic, the impact of UK and US initiatives
- Regulators: US senator Schumer urges regulators to step up credit derivatives oversight, HK regulator warns of electronic trading risks, Update: CFTC announces agricultural markets initiatives, seeks more disclosure from traders, CME Group supports CFTC`s agricultural market initiatives
- Agriculture Special: Opalesque Exclusive: Global hedge fund invests in small listed companies and returns 8.34% YTD, managers on the ethics of trading agricultural futures, believes soft commodity prices set to continue rising, Inflation winners: As food prices rise, growers to hedge funds are cashing in, India and Vietnam most vulnerable to impact of food price inflation - Lehmans, Food inflation to hit 43%: Schafer (video)
- Commodities: Centaurus, Carlyle carve gas caverns as traders bet prices rise, Price of US natural gas rising faster than crude this year, hedge funds` net short positions declining, Is oil the next `bubble` to pop?
- Environmental Trading: Coming soon, war for water!
- Exchanges/Trading Platforms: Equity trading platform Turquoise to launch on September 5, IFSL: Banks` OTC commodities trading outpacing exchanges, ICE to acquire Creditex Group, expanding its derivatives reach, DTCC receives regulatory approval to launch new suite of services for alternative investment products
- Forex: Dollar surges as Bernanke speaks out and U.S. actively seeks stronger currency
- People: Opalesque Exclusive: Ravin Gupta leaves Greylock Capital Management as Asia Portfolio Manager and Managing Director, Polygon co-founder Alexander Jackson resigns from investment responsibilities, Brevan Howard hired ex-Morgan Stanley trader Shikhar Ranjan - Mike Pohly may join him
- Institutions: Pension schemes unwilling to take on risk to boost returns, SEI research shows
- Credit Crunch Update: B&B`s arrears figures are just the beginning, says mortgage expert, U.S. in blame game again as U.K. banker B&B links mortgage problems to loans purchased from GMAC, Lehman in $600m hedging loss in Q2, may look to raise as much as $4bln, Lehman denies going to Fed for cash, Banks fear new $5,000bln balance burden from accounting changes, Auction rate securities market continuing to disappoint investors, HFs hope to snap up some of it, State Street launches $2.5bln offering ahead of more expected write-downs, RBS finds support amid talk of hedge fund interest, Deutsche Bank`s Jain sees `some normalization` but financial crisis not over yet
- Rating Agencies: Rating agencies agree to change the way they charge for credit ratings
- Europe: EDHEC and EuroPerformance publish the Alpha League Table 2008 for Italy and Spain
- Asia: Taiwan FSC commissioner hopes to attract hedge funds
- Legal: John Eseppi convicted of hedge fund scam arrested again for setting up new scheme
- Tech Update: Investor Analytics launches upgraded risk reporting platform for the hedge fund industry, Gissing launches market data integration platform for hedge funds
- Events: Hedge Funds Care`s fifth annual Toronto Open Your Heart to the Children Benefit on Thursday, November 6
- Book Review: A matter of free speech
- Activist News: CSX says TCI has no plan for the company, Trade associations support TCI in fight against CSX, Icahn to seek removal of Yahoo CEO Yang
- News Briefs: Survey finds Wall Street compensation packages dropping significantly for new hires, Shareholder rejections offer key to SPAC market growth, BBVA increases stake in Citic group
- ...And finally: A Poem (a real one!)
- Logon: http://www.opalesque.com/index.php?act=archive
- Fund launches: International Assets to launch hedge fund investing in equity/debt in Africa and the Middle East
- Performance: Och-Ziff funds continued recovery in May, Master Fund up 1.1%, Europe Master Fund up 1.8%, Triskele China hedge fund beats the pessimists, up 55% in last 12 months but rocky start of year, Julius Baer`s assets under pressure, denies rumour it is considering partial sale of GAM HF unit
- Indices: ASAM CISDM Indices April 2008: HF index up 2.13%, CTA down 0.46%
- Listings: B&G Holding appoints UBS as sponsor of creation of Sterling share class and of dual listing in London
- JV: Echelon Capital and Red Rocks Capital form strategic alliance to bring Red Rocks' listed PE strategy to the institutional market
- Opalesque Exclusive: GAIM panel preview, looking at self regulation on both sides of the Atlantic, the impact of UK and US initiatives
- Regulators: US senator Schumer urges regulators to step up credit derivatives oversight, HK regulator warns of electronic trading risks, Update: CFTC announces agricultural markets initiatives, seeks more disclosure from traders, CME Group supports CFTC`s agricultural market initiatives
- Agriculture Special: Opalesque Exclusive: Global hedge fund invests in small listed companies and returns 8.34% YTD, managers on the ethics of trading agricultural futures, believes soft commodity prices set to continue rising, Inflation winners: As food prices rise, growers to hedge funds are cashing in, India and Vietnam most vulnerable to impact of food price inflation - Lehmans, Food inflation to hit 43%: Schafer (video)
- Commodities: Centaurus, Carlyle carve gas caverns as traders bet prices rise, Price of US natural gas rising faster than crude this year, hedge funds` net short positions declining, Is oil the next `bubble` to pop?
- Environmental Trading: Coming soon, war for water!
- Exchanges/Trading Platforms: Equity trading platform Turquoise to launch on September 5, IFSL: Banks` OTC commodities trading outpacing exchanges, ICE to acquire Creditex Group, expanding its derivatives reach, DTCC receives regulatory approval to launch new suite of services for alternative investment products
- Forex: Dollar surges as Bernanke speaks out and U.S. actively seeks stronger currency
- People: Opalesque Exclusive: Ravin Gupta leaves Greylock Capital Management as Asia Portfolio Manager and Managing Director, Polygon co-founder Alexander Jackson resigns from investment responsibilities, Brevan Howard hired ex-Morgan Stanley trader Shikhar Ranjan - Mike Pohly may join him
- Institutions: Pension schemes unwilling to take on risk to boost returns, SEI research shows
- Credit Crunch Update: B&B`s arrears figures are just the beginning, says mortgage expert, U.S. in blame game again as U.K. banker B&B links mortgage problems to loans purchased from GMAC, Lehman in $600m hedging loss in Q2, may look to raise as much as $4bln, Lehman denies going to Fed for cash, Banks fear new $5,000bln balance burden from accounting changes, Auction rate securities market continuing to disappoint investors, HFs hope to snap up some of it, State Street launches $2.5bln offering ahead of more expected write-downs, RBS finds support amid talk of hedge fund interest, Deutsche Bank`s Jain sees `some normalization` but financial crisis not over yet
- Rating Agencies: Rating agencies agree to change the way they charge for credit ratings
- Europe: EDHEC and EuroPerformance publish the Alpha League Table 2008 for Italy and Spain
- Asia: Taiwan FSC commissioner hopes to attract hedge funds
- Legal: John Eseppi convicted of hedge fund scam arrested again for setting up new scheme
- Tech Update: Investor Analytics launches upgraded risk reporting platform for the hedge fund industry, Gissing launches market data integration platform for hedge funds
- Events: Hedge Funds Care`s fifth annual Toronto Open Your Heart to the Children Benefit on Thursday, November 6
- Book Review: A matter of free speech
- Activist News: CSX says TCI has no plan for the company, Trade associations support TCI in fight against CSX, Icahn to seek removal of Yahoo CEO Yang
- News Briefs: Survey finds Wall Street compensation packages dropping significantly for new hires, Shareholder rejections offer key to SPAC market growth, BBVA increases stake in Citic group
- ...And finally: A Poem (a real one!)
- Logon: http://www.opalesque.com/index.php?act=archive
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Misc. Items of Interest
GHOST: Confessions of a Counterterrorism Agent, Chapter 2
June 4, 2008 1455 GMT
This week's Terrorism Weekly is the second chapter of Fred Burton's new book, GHOST: Confessions of a Counterterrorism Agent.
http://www.stratfor.com/analysis/ghost_confessions_counterterrorism_agent_chapter_2_2
June 4, 2008 1455 GMT
This week's Terrorism Weekly is the second chapter of Fred Burton's new book, GHOST: Confessions of a Counterterrorism Agent.
http://www.stratfor.com/analysis/ghost_confessions_counterterrorism_agent_chapter_2_2
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Funnies, Facts, Quotes, etc….
lachrymose LAK-ruh-mohs, adjective:
1. Generating or shedding tears; given to shedding tears; suffused with tears; tearful.
2. Causing or tending to cause tears.
2. Causing or tending to cause tears.
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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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