Main News

 

Gloom and Doom? Nah; Just for the U.S.AN INTERVIEW WITH PETER D. SCHIFF: The U.S. wouldn't be afloat without help.
http://online.barrons.com/article/SB121460948834112305.html?mod=djemWR

 

David Einhorn

GARP Risk Review June/July 2008-Brown, Aaron,Einhorn, Davi-Private Profits and Socialized Risk-Can the global credit crisis be traced to large investment ...
www.garpdigitallibrary.org/display/product.asp?pid=2012 - 37k

 

Baring's Stanion issues market storm warning
Just when you thought market sentiment could not possibly get worse, one of the UK's top strategists, Percival Stanion, has warned it is about to do so.
http://mail2.efnmail.co.uk/r/375891/MTk4MTI1OjE3Nzkw/

 

Fears grow of new stage in credit crisis
Jun 27 2008 00:44
Progressive Moulded Products has become the latest motor parts company to file for Chapter 11 bankruptcy protection, inflicting losses on its owner, private equity firm Thomas H. Lee Partners and lenders led by Goldman Sachs Read more »

 

A Savvy Hedge against Disaster Catastrophe bonds let insurers offload extreme risk while rewarding investors who assume it. A win-win for all?
http://online.barrons.com/article/SB121461411581212747.html?mod=

 

The Federal Reserve scrambled to avert an "expected contagion" that risked infecting the nation's financial system when it took unprecedented actions in mid-March, according to minutes of the meetings released this morning. The Fed's actions -- to provide financial backing to a Bear Stearns rescue package and provide emergency loans to big Wall Street firms -- came at a time when credit and financial problems were intensifying, threatening to paralyze the entire financial system and plunge the economy into a recession. http://wsj.com?mod=djemalertNEWS

Tiger Asia chief links short-selling to poor governance
Bill Hwang, chief executive and founder of Tiger Asia Asset Management, has cited companies with poor corporate governance practices as being vulnerable to short- selling, it emerged from the annual meeting of the International Corporate Governance Network last week.  (Financial Times)
http://mail2.efnmail.co.uk/r/375487/MTk4MTI1OjE3Nzc4/

 

Hedge fund managers await investor verdicts
Financial Times - London,England,UK
By James Mackintosh Hedge fund managers are on edge as they wait for investors to deliver their verdicts on fund performance. The end of the month will see ...

 

Icelandic Meltdown
Forbes Sat, 28 Jun 2008 3:08 AM PDT
How the isolated island nation turned itself into a giant hedge fund--and got crushed by the credit crisis.

 

Soaring inflation throws spotlight on US dollar pegs
Since talks were initiated there in 2001, the city of Doha in Qatar has become synonymous with the World Trade Organisation's ineffectual attempts to lower global trade barriers. But a meeting of the Gulf Co-operation Council states in Qatar's capital earlier this month could lead to a more positive association.
http://mail2.efnmail.co.uk/r/375865/MTk4MTI1OjE3Nzkw/

 

Future of the Street Wall Street is likely to reinvent itself in coming years -- and emerge stronger than before the current crisis hit. One big change: compensation. (Video)
http://online.barrons.com/article/SB121460952736112313.html?mod=djemWR

 

A panel of top risk management practitioners discussed the results of Marsh’s 5th annual Excellence in Risk Management survey, conducted in conjunction with the Risk and Insurance Management Society (RIMS) and Financial Executives  Christopher de Wolfe, Corporate Risk Manager, Mars Inc. global.marsh.com/risk/e22/?WT.mc_id=NRORJune252008.

 

Lehman backs hedge funds with $3bn
Lehman Brothers and US credit manager Aladdin Capital are each raising $3bn (?1.9bn) funds to back small hedge fund managers in the hope of capitalising on the worst dislocation in the industry for a decade.
http://mail2.efnmail.co.uk/r/375895/MTk4MTI1OjE3Nzkw/

 

Merrill may take $5.4 bln in Q2 writeoffs: Lehman
Reuters - USA
In addition to the monoline write-down, the analyst said he was now incorporating a larger CDO/subprime write-down following a sharp decline in the ABX ...

 

Blackstone gathers momentum after New York listing
Investors have every reason to be happy with the returns from alternative investments firm Blackstone Group as it effectively doubles their money every three-and-half years. But using the word "wonderful" might bring a grimace of pain to at least one of those who bought into its listing last June.
http://mail2.efnmail.co.uk/r/375916/MTk4MTI1OjE3Nzkw/

 

Citigroup Winds Down Distressed-Debt Desk
Wall Street Journal - USA
They and about six associates plan to launch a distressed-debt hedge fund by early next year that will be seeded by a significant but undetermined amount of ...
See all stories on this topic

 

Cover offered for hedge fund fraud
Financial Times Sun, 29 Jun 2008 9:52 AM PDT
When hedge fund manager and convicted fraudster Samuel Israel III disappeared this month, leaving nothing but the message “suicide is painless” scrawled in the dust on his car, you can be sure his life assurer did not pay out – not least because police believe he was trying to fake his death.

 

Citadel Slammed By Cyber Crime
Unknown people in Shanghai have cloned the Citadel Investment Group Web site and established a link to investor passwords, thereby exposing clients of the $17 billion hedge fund.

 

Pension Assets in Alternatives up 40%
By: Emma Trincal, Senior Financial Correspondent
Posted: 06/27/2008 3:52:31 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15096.html

 

Japan's inflation hits 10-year high
Japanese households cut their spending by 3.2% in May, the government said Friday, adding a further drag on the world's second-largest economy. Households account for nearly 55% of the Japanese economy. Their spending pullback is a further recession warning since corporations are already struggling against skyrocketing energy and raw-material costs. Forbes/Thomson Financial News (27 Jun.)

 

The Truth Behind Buffett's Big Bet
Motley Fool - USA
Instead, as he explained in a recent Fortune article, the hedge fund managers' efforts "are self-neutralizing, and their IQ will not overcome the costs they ...

 

TRS Named ''Public Pension Fund Investor of the Year''
By BusinessWire
6/26/2008 4:55:01 PM

 

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Yield Curve Corner

 

IMF finally knocks on Uncle Sam's door
The Age - Melbourne,Victoria,Australia
Der Spiegel wrote that the IMF had "informed" Federal Reserve chairman Ben Bernanke of plans that would have been unheard of in the past: a general ...

 

Fed mulled risks from dealer window, minutes show
Boston Globe - United States
Fed Chairman Ben Bernanke waits to speak at Harvard senior class day in Cambridge, Massachusetts June 4, 2008. (REUTERS/Adam Hunger) WASHINGTON (Reuters) ...

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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:

 

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Iranian Situation and Other Man Made Disasters

 

 

U.S. escalating covert operations against Iran: report
Reuters via Yahoo! News Sun, 29 Jun 2008 9:24 AM PDT
U.S. congressional leaders agreed late last year to President George W. Bush's funding request for a major escalation of covert operations against Iran aimed at destabilizing its leadership, according to a report in The New Yorker magazine published online on Sunday.

 

Brinksmanship In Iran
CBS News Sun, 29 Jun 2008 10:01 AM PDT
BRINKSMANSHIP IN IRAN....In the New Yorker, Seymour Hersh reports that the Bush administration is stepping up covert action against Iran:Late last year, Congress agreed to a request from President Bush to fund a major escalation of covert operations against Iran,...

 

Iran's Khamenei names new security council representative
AFP via Yahoo! News Sat, 28 Jun 2008 10:51 AM PDT
Iran's supreme leader Ayatollah Ali Khamenei on Saturday named top nuclear negotiator Saeed Jalili as his representative on the national security council, of which Jalili is already secretary, state media reported.

 

Iran says Gulf oil route at risk if attacked
Reuters via Yahoo! News Sat, 28 Jun 2008 4:05 AM PDT
The Revolutionary Guards said Iran would impose controls on shipping in the vital Gulf oil route if Iran was attacked and warned regional states of reprisals if they took part, a newspaper reported on Saturday.

 

Iran: 1987 Iraqi Chemical Attack On Sardasht Condemned
June 27, 2008 1353 GMT
Iran condemned the 1987 Iraqi chemical bombing attack on Sardasht, a Kurdish city in northwestern...
http://www.stratfor.com/sitrep/iran_1987_iraqi_chemical_attack_sardasht_condemned

 

Pension Assets in Alternatives up 40%
By: Emma Trincal, Senior Financial Correspondent
Posted: 06/27/2008 3:52:31 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15096.html

 

 <http://www.virtualjerusalem.com/DEBKA/6.27j.jpg> 21 June: DEBKAfile’s Western military sources do not believe that if Israel does attack Iran’s nuclear facilities, it will resort to the old-fashioned aerial blitz tactic employed in 1981 for bombing Iraq’s Osirak reactor. They therefore challenge the US officials’ conclusion that Israel’s aerial exercise in conjunction with the Greek Air Force over Crete in early June was in fact a rehearsal for Iran.

 

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Opalesque’s Corner

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Misc. Items of Interest

 

Want to Enhance Your Brain Power?
Technology Review June 26, 2008
*************************
Researchers at the National
Institute for Neurological Disorders
and Stroke are studying how applying
gentle electrical current to the
scalp can improve learning. The
transcranial direct current
stimulation (TDCS) device uses a
simple nine-volt battery, which
passes about 2 to 2.5 milliamps of
electrical current directly to the
brain through...
http://www.kurzweilai.net/email/newsRedirect.html?newsID=8953&m=29780

 

Gulf directory:  Top 10 sovereign wealth funds
The Gulf's top 10 sovereign wealth funds ranked by assets under management.
http://mail2.efnmail.co.uk/r/375875/MTk4MTI1OjE3Nzkw/

Gulf directory: Top ranking international banks
Financial News profiles of the top 10 international banks in the region ranked by the investment banking fees they generated last year.
http://mail2.efnmail.co.uk/r/375876/MTk4MTI1OjE3Nzkw/

Gulf directory: Top providers of Islamic finance
Financial News profiles five of the top regional and five international providers of Islamic finance.
http://mail2.efnmail.co.uk/r/375877/MTk4MTI1OjE3Nzkw/

Gulf directory: Top five private banks
Financial News profiles the top five private banks in the Gulf.
http://mail2.efnmail.co.uk/r/375878/MTk4MTI1OjE3Nzkw/

 

Gulf directory: Top 10 providers of project finance
A list of the top 10 providers of project finance for the period 2007-June 2008, ranked by investment banking research prodiver Dealogic.
http://mail2.efnmail.co.uk/r/375879/MTk4MTI1OjE3Nzkw/

Gulf directory: Top five local banks
Financial News profiles of the top local banks in the region ranked by the investment banking fees they generated last year.
http://mail2.efnmail.co.uk/r/375880/MTk4MTI1OjE3Nzkw/

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Funnies, Facts, Quotes, etc….

 

Hedge Fund Manager Busson and Actress Uma Thurman to Marry
Bloomberg - USA
By Steve Rothwell June 28 (Bloomberg) -- Arpad Busson, chairman of the $15 billion hedge fund EIM SA, and actress Uma Thurman have announced their ...

interpolate in-TUR-puh-layt, transitive verb:

1. To alter or corrupt (as a book or text) by the insertion of new or foreign matter.
2. To insert (material) into a text or conversation.
3. To insert between other elements or parts.
4. [Mathematics] to estimate a value of (a function) between two known values.
5. To make insertions.

 

China man coughs up $2.1 mn to dine with Buffett
Business Standard India Sun, 29 Jun 2008 1:52 AM PDT
A lunch date with billionaire investor Warren Buffett was sold to a Chinese hedge fund manager yesterday for more than $2.1 million during an online auction, more than tripling last year's record of $650,100.

 

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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.