Archive: 06/24/2008
Main News
Manhasset Capital Closing Its Doors
New York hedge fund Manhasset Capital will shut its doors, beginning the liquidation process later this month following the fund’s seeder’s call to pull out their $100 million initial investment.
New York hedge fund Manhasset Capital will shut its doors, beginning the liquidation process later this month following the fund’s seeder’s call to pull out their $100 million initial investment.
Valuations are now so low on some regional banks that their share prices reflect risks like sharply higher credit losses, future dilutive equity issuance and questionable management.
Hedgeweek
Hedge fund managers have traditionally paid little attention to their counterparty risk. The banks and prime brokers with whom they deal were deemed too big to fail. Recent events have shown this to be false. InteDelta can help fund managers put in place appropriate risk policies, procedures and systems.
Hedge fund managers have traditionally paid little attention to their counterparty risk. The banks and prime brokers with whom they deal were deemed too big to fail. Recent events have shown this to be false. InteDelta can help fund managers put in place appropriate risk policies, procedures and systems.
Carol Loomis writes in this week's Fortune about a bet that Warren Buffett made with a hedge fund management company. You can read the fascinating story at http://money.cnn.com/2008/06/04/news/newsmakers/buffett_bet.fortune/index.htm. Quoting:
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Jun 23, 2008 ... Oil Rises as Saudi Pledge Fails to Ease Nigeria Supply Concern ... that Saudi Arabia's output increase may not boost global supply enough to ... www.bloomberg.com/apps/news?pid=20601087&sid=aiZBW4RNLmOI&refer=home - 9 hours ago - Similar pages |
The following describes the preliminary findings of IMF staff at the conclusion of certain missions (official staff visits, in most cases to member countries). Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, and as part of other staff reviews of economic developments.
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Vietnam: Raising Rice Exports in a Tiny Market. June 23, 2008 2129 GMT. Vietnam will increase its rice exports, but it remains to be seen how the supply ... |
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Russia: LUKoil's Arctic Venture · Latin America · Mexico Security Memo: June 23, 2008 · Middle East/North Africa · Iraq: Shiite Security and the Anbar ... |
Hedge fund Harbinger discloses HBOS short position
Reuters via Yahoo! UK & Ireland News Mon, 23 Jun 2008 10:09 AM PDT
U.S. hedge fund Harbinger Capital said it held a 3.3 percent short position, worth about 345 million pounds, in bank HBOS , under new disclosure rules for companies during rights issues.
Reuters via Yahoo! UK & Ireland News Mon, 23 Jun 2008 10:09 AM PDT
U.S. hedge fund Harbinger Capital said it held a 3.3 percent short position, worth about 345 million pounds, in bank HBOS , under new disclosure rules for companies during rights issues.
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Jun 22, 2008 ... Japan Business Confidence Falls the Most in At Least Four Years. By Jason Clenfield. Enlarge Image/Details. June 23 (Bloomberg) -- Confidence among Japanese ... |
Citigroup's head of hedge fund services leaves<http://www.hedgefund-index.com/newstoday.asp>
Source: BusinessWeek
Citigroup Inc.'s head of hedge fund services is leaving the company, according to an internal company memo. More...<http://www.hedgefund-index.com/newstoday.asp>
Source: BusinessWeek
Citigroup Inc.'s head of hedge fund services is leaving the company, according to an internal company memo. More...<http://www.hedgefund-index.com/newstoday.asp>
Triple Point Readies FAS 157 Solution for Commodities Firms
By: Jacob Bunge, Financial Correspondent
Posted: 06/23/2008 1:34:35 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1315.html
By: Jacob Bunge, Financial Correspondent
Posted: 06/23/2008 1:34:35 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1315.html
Council Gets Set To Press a Tax on Hedge Funds
Partners Would Pay a City Tax on Income Generated by Investments
BY GRACE RAUH - Staff Reporter of the Sun
A majority of the City Council is backing a tax-the-rich plan that would require hedge fund and private equity fund partners to pay a city tax on income generated by investments, making it more likely to gain traction in Albany. Assemblyman Micah…
Partners Would Pay a City Tax on Income Generated by Investments
BY GRACE RAUH - Staff Reporter of the Sun
A majority of the City Council is backing a tax-the-rich plan that would require hedge fund and private equity fund partners to pay a city tax on income generated by investments, making it more likely to gain traction in Albany. Assemblyman Micah…
America's growth spurt will require more energy. But economic development and environmental progress do not need to be in conflict with one another. Indeed, the country is not helpless when it comes to fighting the effects of climate change, according to a report by the Brookings Institution. In fact, metropolitan areas offer greater energy and carbon efficiencies than less populated regions, in large measure because of residential density and good public transport.
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Yield Curve Corner
Despite tough talk, Bernanke Fed unlikely to boost rates
AFP -
WASHINGTON (AFP) — The tough talk on inflation from Federal Reserve chairman Ben Bernanke and his colleagues is unlikely to lead to a boost in interest ...
AFP -
WASHINGTON (AFP) — The tough talk on inflation from Federal Reserve chairman Ben Bernanke and his colleagues is unlikely to lead to a boost in interest ...
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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/Fire.gif
Thunderstorms, Flash Floods Threaten Tri-State Area
Thunderstorms ripped across Dutchess County and flood watches have been issued for several other counties in the tri-state area Monday.
Thunderstorms ripped across Dutchess County and flood watches have been issued for several other counties in the tri-state area Monday.
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Iranian Situation and Other Man Made Disasters
2 charged with exporting aircraft parts to Iran
AP via Yahoo! News Mon, 23 Jun 2008 11:34 AM PDT
Two men have been charged in Florida with illegally exporting aircraft components to Iran.
AP via Yahoo! News Mon, 23 Jun 2008 11:34 AM PDT
Two men have been charged in Florida with illegally exporting aircraft components to Iran.
Backgrounder: Religion and Politics in Iran
New York Times Mon, 23 Jun 2008 10:18 AM PDT
In 2005, Mahmoud Ahmadinejad of Iran closed a speech at the United Nations with a call for the "mighty Lord" to " hasten the emergence " of Imam Mahdi, a direct descendent of the Prophet Muhammad.
New York Times Mon, 23 Jun 2008 10:18 AM PDT
In 2005, Mahmoud Ahmadinejad of Iran closed a speech at the United Nations with a call for the "mighty Lord" to " hasten the emergence " of Imam Mahdi, a direct descendent of the Prophet Muhammad.
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Opalesque’s Corner
- Fund launches: Opalesque Exclusive: Danfonds to outsource investment analytics to Capgemini, launching frontier market fund in September, Ex-Pimco manager Brynjolfsson to start hedge fund, Cazenove to launch long-awaited Russell vehicle
- Performance: Lehman hedge funds took hits in Q1, but recovering, BlueCrest revenue boosted by Man Group stake, London Diversified records 17% loss on global macro fund
- Listings: Morningstar: Blackstone IPO perfect timing for insiders, worst timing for common holders
- Trends: Demand for frontier markets fund flow data is on the rise, according to EPFR Global`s Brad Durham
- Credit Crunch Update: Hedge Fund managers say credit crisis to worsen, Oil spike, commodities bubble, decline of dollar turn outlook for credit crisis back to doom and gloom, Goldman profits from the credit crunch by acting like a large hedge fund, Job fears mount as Goldman sheds staff
- Insurers: Bond insurers want $125bln of cover wiped out, MBIA says it may be forced to make $7.4bln in payments after downgrade, Dexia to provide $5bln credit line to bond unit FSA
- People: GLG Partners appoints new portfolio manager Fabrice Bay, Citigroup`s head of hedge fund services to leave, Brevan Howard director resigns, BIS general manager and CEO Malcolm Knight to resign and join Deutsche Bank Group
- Regulatory: FSA rejects hedge fund criticism and imposes short-selling rules, AIMA consulting options with membership regarding short selling rules, after FSA moves forward with new rules, Commentary: FSA rushing new rules is no way to run a financial centre
- Tax Update: NY Council gets set to press a tax on hedge funds
- Bear Stearns Update: Bear Stearns Cioffi and team case study for e-mail risks, Cioffi`s March vodka toast to fund`s small loss marked the beginning of the end, Wolf Haldenstein Adler Freeman & Herz LLP commences class action lawsuit on behalf of the Bear Stearns companies restricted stock units and cap units recipients
- Morgan Stanley Update: Morgan Stanley`s IT failed to detect GBP61m ($120m) rogue trader, analysts highlight need for much stronger controls
- Legal: Samuel Israel spends days prior to prison sentence buying getaway RV and installing stereo and navigation systems, Apaloosa and other investors seek Delphi lawsuit dismissal, Appeals court narrows scope of discovery in Veras Partners `late trading` suit, Hollywood producer awarded $5m in breach of contract suit against Benevolent Partners
- ETFs: Comment: Hermosa`s all-ETF hedge fund? You`ve got to be kidding
- Exchanges: Nymex dissidents hire adviser in CME fight, Deutsche Boerse chief says equity trade slowed by 33% in 2nd Quarter, The Vienna Stock Exchange acquires 81.01% share in Ljubljana Stock Exchange
- UBS: Fraction of US clients may be affected by tax probe, bank cooperating with US investigation, FBI makes formal request to probe tax evasion case at UBS
- India: ING Investment Management CIO sees India stock market a correction in a bull market
- China: Chinese A-share earnings growth likely to miss forecast by 30% to 50%
- Commodities: ICE chief warns of dangers of demonising oil futures traders, CalPERS sees 68% return on commodities investments as Senator proposes prohibiting or limiting pension participation, Saudi oil boost fails to alleviate concerns
- Activist Investing: Icahn to soften his approach as Yahoo investors get nervous, Jana Partners ends CNET proxy fight, sells stock, U.K. won`t impose sanctions on Japan over TCI/J-Power feud
- News Briefs: T. Boone Pickens gives another multi million dollar gift to university,The Hohns double charitable giving to GBP466m ($918m), Former GLG L/S trader to star in apprentice-like reality show about trading, BNP Paribas launches Luxury and Euro Stoxx 600 ETFs, HSBC to launch Georgia banking operations Monday
- ... And Finally: Gotta love kids!
- Logon: http://www.opalesque.com/index.php?act=archive
- Performance: Lehman hedge funds took hits in Q1, but recovering, BlueCrest revenue boosted by Man Group stake, London Diversified records 17% loss on global macro fund
- Listings: Morningstar: Blackstone IPO perfect timing for insiders, worst timing for common holders
- Trends: Demand for frontier markets fund flow data is on the rise, according to EPFR Global`s Brad Durham
- Credit Crunch Update: Hedge Fund managers say credit crisis to worsen, Oil spike, commodities bubble, decline of dollar turn outlook for credit crisis back to doom and gloom, Goldman profits from the credit crunch by acting like a large hedge fund, Job fears mount as Goldman sheds staff
- Insurers: Bond insurers want $125bln of cover wiped out, MBIA says it may be forced to make $7.4bln in payments after downgrade, Dexia to provide $5bln credit line to bond unit FSA
- People: GLG Partners appoints new portfolio manager Fabrice Bay, Citigroup`s head of hedge fund services to leave, Brevan Howard director resigns, BIS general manager and CEO Malcolm Knight to resign and join Deutsche Bank Group
- Regulatory: FSA rejects hedge fund criticism and imposes short-selling rules, AIMA consulting options with membership regarding short selling rules, after FSA moves forward with new rules, Commentary: FSA rushing new rules is no way to run a financial centre
- Tax Update: NY Council gets set to press a tax on hedge funds
- Bear Stearns Update: Bear Stearns Cioffi and team case study for e-mail risks, Cioffi`s March vodka toast to fund`s small loss marked the beginning of the end, Wolf Haldenstein Adler Freeman & Herz LLP commences class action lawsuit on behalf of the Bear Stearns companies restricted stock units and cap units recipients
- Morgan Stanley Update: Morgan Stanley`s IT failed to detect GBP61m ($120m) rogue trader, analysts highlight need for much stronger controls
- Legal: Samuel Israel spends days prior to prison sentence buying getaway RV and installing stereo and navigation systems, Apaloosa and other investors seek Delphi lawsuit dismissal, Appeals court narrows scope of discovery in Veras Partners `late trading` suit, Hollywood producer awarded $5m in breach of contract suit against Benevolent Partners
- ETFs: Comment: Hermosa`s all-ETF hedge fund? You`ve got to be kidding
- Exchanges: Nymex dissidents hire adviser in CME fight, Deutsche Boerse chief says equity trade slowed by 33% in 2nd Quarter, The Vienna Stock Exchange acquires 81.01% share in Ljubljana Stock Exchange
- UBS: Fraction of US clients may be affected by tax probe, bank cooperating with US investigation, FBI makes formal request to probe tax evasion case at UBS
- India: ING Investment Management CIO sees India stock market a correction in a bull market
- China: Chinese A-share earnings growth likely to miss forecast by 30% to 50%
- Commodities: ICE chief warns of dangers of demonising oil futures traders, CalPERS sees 68% return on commodities investments as Senator proposes prohibiting or limiting pension participation, Saudi oil boost fails to alleviate concerns
- Activist Investing: Icahn to soften his approach as Yahoo investors get nervous, Jana Partners ends CNET proxy fight, sells stock, U.K. won`t impose sanctions on Japan over TCI/J-Power feud
- News Briefs: T. Boone Pickens gives another multi million dollar gift to university,The Hohns double charitable giving to GBP466m ($918m), Former GLG L/S trader to star in apprentice-like reality show about trading, BNP Paribas launches Luxury and Euro Stoxx 600 ETFs, HSBC to launch Georgia banking operations Monday
- ... And Finally: Gotta love kids!
- 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….
capacious kuh-PAY-shuhs, adjective:
Able to contain much; roomy; spacious.
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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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