Main News

 

Wall Street's credit crisis heads into second year: Financial News - Yahoo! Finance
http://biz.yahoo.com/ap/080618/investment_banks_turmoil.html?.v=3

 

 Stocks, Debt Yet to Face Worst of Sell-Off, RBS's Janjuah Says

 http://www.bloomberg.com/apps/news?pid=email_en&refer=home&sid=ay1fmpIqbwl4

 

Paulson Says Credit Crisis Not Over
By: Reuters
Posted: 06/18/2008 8:40:30 AM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15072.html

 

 

The Basel Committee on Banking Supervision yesterday issued for public comment enhanced global Principles for Sound Liquidity Risk Management and Supervision.

Full Story...

 

BANKING REGULATORS MOVE TO TACKLE LIQUIDITY RISK
The Basel Committee on Banking Supervision has issued new draft guidelines for the management and supervision of liquidity risk, aimed at making the global banking system more resilient and addressing weaknesses revealed by the credit crunch.
More on this story: http://www.finextra.com/fullstory.asp?id=18602

 

Merrill Says Speculators Not to Blame
By: Michael S. Fischer, Senior Financial Correspondent
Posted: 06/18/2008 3:52:21 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1312.html

 

Layoffs - The Definitive Job Loss League Table (Updated)

The source is “Here is the City” and the link is http://news.hereisthecity.com/news/business_news/7851.cntns

 

Key Credit Factors: Risk Management And Market Diversity Set Solid Foundation For North American Engineering & Construction

Companies in the North American engineering and construction industry have high levels of business and financial risk to deal with. Their success depends on the health of the economy. All in all, successful E&C providers tend to have good track records of managing operating risks inherent in the industry, derive benefits from diversity and scale, have significant financial capacity to withstand potential losses on individual projects, and function well during economic downturns.

More

 

Worldwide, as much as $350 trillion worth of financial products are tied to the London Interbank Offered Rate, or LIBOR. So it was no small concern this spring when some experts questioned whether the rate's daily updates were rigged to be artificially low. Set LIBOR rates too low and borrowers might get an undeserved windfall -- at lenders' expense.

Full Story...

 

Martello Shuts Down $1B Operation
Martello Investment Management has confirmed it will fold later this year and return capital to investors.

 

330 Ratings From 92 CDO of ABS And CDO Of CDO Transactions On CreditWatch Negative

We placed 330 ratings from 92 U.S. cash flow and hybrid collateralized debt obligation (CDO) of asset-backed securities (ABS) transactions and CDO of CDO transactions on CreditWatch with negative implications. The CDO of ABS and CDO of CDO classes whose ratings are being placed on CreditWatch negative represent an original issuance amount of approximately $46.48 billion.

 

 

Wednesday , 18 Jun 2008
With oil costs reaching potentially unsustainable levels, the gold market has to be prepared for a reaction to the puncturing of the oil price bubble

 

By PAUL THARP

An unprecedented corn-shortage crisis is inflaming a new fight over its use - whether it goes into fuel tanks or shopping carts. Battle lines were drawn for the first time yesterday as ethanol producers - which are expected to take nearly half the...full story

 

Corn Crop Is Uncertain As the Weather
By: Jacob Bunge, Financial Correspondent
Posted: 06/18/2008 12:48:50 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=mfad&story=mfad1311.html

 

6 New Tainted Tomato Illnesses Confirmed In NYC
Six new illness connected to salmonella-tainted tomatoes have been confirmed in
New York City, health officials said.  Meanwhile, several fast food chains are
putting tomatoes back on the menu.
MORE DETAILS: <http://www.wnbc.com/tu/5yFCGhsQZ.html>

 

Economic outlook "subprime," no recession: report
June 18, 2008 08:19 AM ET
SAN FRANCISCO (Reuters) - The economy will likely avoid a formal
recession, but its outlook through the end of next year is decidedly
"subprime" with the deep housing downturn restraining growth
to just above 1 percent, a UCLA Anderson Forecast report released
on Wednesday said.
http://links.reuters.com/r/KT2XP/ROEPH/1FL09/W68OH/JAJEX/YT/t

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Yield Curve Corner

 

Bernanke Speaks!
Minyanville.com - New York,USA
When Federal Reserve chairman Ben Bernanke speaks, everybody listens. Yesterday, the audience was Congress, where Bernanke, along with members of the Senate ...

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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/FLDus170_G12.jpg

Scientists fighting disease with climate forecasts
The Associated Press -
... with local weather and warning forecasters. Traditionally hospitals have sought to ride out storms, but that didn't work out well when hurricane Katrina ...

 

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Iranian Situation and Other Man Made Disasters

 

Bush Prepares a Messy Iran Handoff
Time Magazine Wed, 18 Jun 2008 11:45 AM PDT
Analysis: The President can't end Iran's nuclear program in the time he has left. So he's passing the problem on

 

Report: Iran minors sentenced to death
AP via Yahoo! News Tue, 17 Jun 2008 3:44 PM PDT
Iran has sentenced 177 people under the age of 18 to death over the past decade and has executed nearly three dozen of them, a human rights group said Tuesday.

 

Sunni group claims bombing of Iran mosque
Reuters via Yahoo! UK & Ireland News Wed, 18 Jun 2008 11:27 AM PDT
A little-known Iranian Sunni dissident group says it was behind a deadly mosque bombing in southern Iran, which Tehran blames on the United States, Britain, and Israel, according to an Internet statement.

 

Iran: Jundallah Militants Kill 2 Hostages
June 18, 2008 1500 GMT
The Jundallah militant group on June 18 said it has shot and killed two of the 16 Iranian police...
http://www.stratfor.com/sitrep/iran_jundallah_militants_kill_2_hostages

 

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Opalesque’s Corner

 

- Opalesque Exclusive: GAIM Monaco day 1 - distressed securities and global macro are the favourite strategies, 3rd generation FoHFs should be technology-driven
- Opalesque Exclusive: Canada`s new funds part 2:  Canadian firm to launch `soft` activist fund - opportunities for activism in Canada are unique, very little competition
- Fund launches: Goldman Sach Asset Management launches L/S replication fund
- Performance: Nomos Capital: Brigadier Capital Offshore Fund gains 2.31% in May, 12.58% YTD
- Indices: HFRI: All but two indices up in May, Energy / Basic Materials index up 4.86%, EM Russia / Eastern Europe index up 5.33%, Canadian Hedge Watch indices in May: Composite Index up 3.42%, Equity Hedged Index up 3.98%, Scotia Capital Canadian HF Index up 6.86% for May, State Street Investor Confidence Index rises from 80.9 to 81.4 in June
- Assets: Goldman Sachs Dynamic Opportunities FoHF raises $221m in share sale
- Investors: Oakley Capital picks up `marginalised` high net worth investors as FoHFs embrace institutions, CFA Institute offers investors 10 tips to a socially responsible investment strategy
- Now-defunct Manhattan Investment Fund claim of 20% made sense, ex-Bear executive says
- Risk Management: Opalesque Exclusive: Research article by The Cambridge Strategy CIO Russell Thompson - The measurement of foreign exchange risk in emerging markets
- Credit Crunch Update: CDR launches counterparty risk index to track credit risk of Wall Street banks, Goldman profit falls, but beats forecasts, Goldman analysts say U.S. banks may need $65bln new capital
- People: Curtis Arledge joins BlackRock as co-head of US fixed income portfolio management group, Update: CQS expands in Hong Kong, hiring David Kilgore and David Welch, CAIA names Steve Wallace associate director of industry relations
- Regulatory: Eton Park`s Eric Mindich urges hedge funds to take best practices seriously
- Legal: Prosecutors to turn over forfeited Bayou funds, Citigroup Falcon hedge fund can continue tender offer, Deutsche Bank sued over subprime `fraud` by M&T Bank, Parmalat investors launch new European legal action against banks and auditors
- Commodities: NYSE chief says commodity price increases due to pension investors, not speculators, Europe overtakes US in commodity ETF market
- Exchanges: LSE plans technology upgrades as exchange competition escalates
- Northern Rock: Northern Rock repaying government loan too quickly, economist warns, Northern Rock to probe former board
- Europe: B&G offers conversion of Euro shares into new Sterling class of shares, Algorithmics identifies portfolio replication as a means for European life insurers to deal with Solvency II regulation, Short sellers `not to blame` for HBOS fall
- Middle East: ING aims to raise $5bln  in MENA region through funds over next three years
- Asia: What`s behind Sparx`s Cosmo deal?, China: Market expects new batch of QFII quotas soon
- Sovereign Wealth Funds: Temasek Holdings, Qatar Investment Authority eye Barclays stakes
- Activist News: US senator Schumer urges bill to punish funds hiding stakes, TCI, 3G win proxy adviser recommendation for CSX board nominees, Ramius urges CKE to cut costs, spending, UK`s Wincanton drops bid for TDG, leaves field clear for Laxey
- News Briefs: Hedge fund fraudster Charles Schmitt offered university job, Standard & Poor`s and SuperDerivatives announce alliance to combine valuation offerings for securities and derivatives, SSgA lines up PE replication strategy, SocGen and Rockefeller form private banking alliance
- ... And Finally: Escaped German thief asks police to open handcuffs
- 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….

 

cogent KOH-juhnt, adjective:

Having the power to compel conviction; appealing to the mind or to reason; convincing.

 

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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.