Archive: 07/15/2008
Main News
Uncle Sam Adopts Fannie and Freddie Socialism takes hold in U.S. finance. Get over it.
http://online.barrons.com/article/SB121601256890050373.html?mod=djemBF
http://online.barrons.com/article/SB121601256890050373.html?mod=djemBF
No Bottom Yet for Financial Stocks The market isn't acting as if it believes that the worst for the beleaguered sector is over.
http://online.barrons.com/article/SB121601144228050409.html?mod=djemBF
http://online.barrons.com/article/SB121601144228050409.html?mod=djemBF
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Global Market Brief: The Mortgage 'Bailout' Plan and the U.S. Economy. July 14, 2008 | 2040 GMT. Global Market Brief - Stock. U.S. Treasury Secretary Henry ... www.stratfor.com/analysis/global_ |
As part of industry-wide sell-off, stocks in New York banks dropped Monday over mortgage concerns. None in danger of collapse, according to analysts.
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Jul 12, 2008 ... OTHER FREE CONTENT FROM THE WALL STREET JOURNAL. EDITORS' PICKS ... Stop Worrying, and Learn to Love the Bear ... online.wsj.com/public/article/SB121582067258747665.html?mod=2_1569_topbox - |
Former Morgan Stanley man charged
Jul 14 2008 01:46
Hong Kong's market regulator claims the group's one-time Asia managing director was involved with insider trading on a billion-dollar Chinese overseas acquisition Read more »
Jul 14 2008 01:46
Hong Kong's market regulator claims the group's one-time Asia managing director was involved with insider trading on a billion-dollar Chinese overseas acquisition Read more »
M&As fall victim to sombre look
Jul 13 2008 19:45
The global deal environment is set to deteriorate over the next 12 months as the grim economic outlook erodes the confidence of companies and their balance sheets weaken, KPMG has warned Read more »
Jul 13 2008 19:45
The global deal environment is set to deteriorate over the next 12 months as the grim economic outlook erodes the confidence of companies and their balance sheets weaken, KPMG has warned Read more »
Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings
Bloomberg - USA
``You had risks off the balance sheet that came back to roost,'' said Marc Siegel, head of accounting research and analysis at RiskMetrics. ...
Bloomberg - USA
``You had risks off the balance sheet that came back to roost,'' said Marc Siegel, head of accounting research and analysis at RiskMetrics. ...
Argentina: A Natural Gas Implosion?
July 11, 2008 2214 GMT
Argentina is now relying on natural gas imports -- a development that will threaten the government's ability to meet the population's most basic needs.
http://www.stratfor.com/analysis/argentina_natural_gas_implosion
July 11, 2008 2214 GMT
Argentina is now relying on natural gas imports -- a development that will threaten the government's ability to meet the population's most basic needs.
http://www.stratfor.com/analysis/argentina_natural_gas_implosion
Thain in Vain
Merrill Lynch needs capital and has no good options. It has its C.E.O. to thank. Read More
Merrill Lynch needs capital and has no good options. It has its C.E.O. to thank. Read More
London Grows, but New York Still Hedge Funds' Capital
By: Jacob Bunge, Financial Correspondent
Posted: 07/14/2008 6:07:24 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15123.html
By: Jacob Bunge, Financial Correspondent
Posted: 07/14/2008 6:07:24 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15123.html
Hedge Funds Show Obama the Money
New York Times Mon, 14 Jul 2008 4:42 AM PDT
In a shift from Wall Street’s traditional embrace of Republicans, hedge fund managers are now pledging their allegiance to Democrat Barack Obama’s White House bid.
New York Times Mon, 14 Jul 2008 4:42 AM PDT
In a shift from Wall Street’s traditional embrace of Republicans, hedge fund managers are now pledging their allegiance to Democrat Barack Obama’s White House bid.
Hedge Fund TCI Scraps Bid to Boost Stake in J-Power (Update1)
Bloomberg.com Mon, 14 Jul 2008 2:00 AM PDT
July 14 (Bloomberg) -- TCI scrapped a bid to double its stake in J-Power , ending a six-month tussle with the Japanese government, in a setback to the U.K. hedge fund's efforts to boost shareholder returns in the world's second-largest economy.
Bloomberg.com Mon, 14 Jul 2008 2:00 AM PDT
July 14 (Bloomberg) -- TCI scrapped a bid to double its stake in J-Power , ending a six-month tussle with the Japanese government, in a setback to the U.K. hedge fund's efforts to boost shareholder returns in the world's second-largest economy.
Armajaro Commodities Fund Tops $1B after Reopening
By: Michael S. Fischer, Senior Financial Correspondent
Posted: 07/14/2008 1:55:09 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1343.html
By: Michael S. Fischer, Senior Financial Correspondent
Posted: 07/14/2008 1:55:09 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1343.html
SEC to investigate rumor-based market manipulation
The Securities and Exchange Commission said it and other financial regulators will investigate market manipulation by people spreading false information on shares. The SEC said it will look into whether broker-dealers and investment advisers have controls that prevent market manipulation. The reviews are in addition to enforcement investigations into whether there has been intentional manipulation of asset prices by investors spreading rumors to aid their short-selling programs. Reuters (13 Jul.)
The Securities and Exchange Commission said it and other financial regulators will investigate market manipulation by people spreading false information on shares. The SEC said it will look into whether broker-dealers and investment advisers have controls that prevent market manipulation. The reviews are in addition to enforcement investigations into whether there has been intentional manipulation of asset prices by investors spreading rumors to aid their short-selling programs. Reuters (13 Jul.)
Of Investors' Motives
Wall Street Journal - USA
In June, a federal judge ruled the funds had hidden their intentions, and said they should have disclosed their stake sooner. In 2004, hedge fund Perry ...
Wall Street Journal - USA
In June, a federal judge ruled the funds had hidden their intentions, and said they should have disclosed their stake sooner. In 2004, hedge fund Perry ...
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Yield Curve Corner
Dollar declines against euro, yen on Bernanke talk
Wall Street Journal - USA
Federal Reserve Chairman Ben Bernanke told lawmakers that financial-market turmoil is "ongoing." Worries about the viability of US mortgage giants Fannie ...
Wall Street Journal - USA
Federal Reserve Chairman Ben Bernanke told lawmakers that financial-market turmoil is "ongoing." Worries about the viability of US mortgage giants Fannie ...
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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/VSHokmok196_N8.jpg
Alaska volcano erupts; island residents evacuated
July 14, 2008 05:48 AM ET
ANCHORAGE, Alaska (Reuters) - A volcano in Alaska's Aleutian
chain erupted on Saturday, sending a cloud of ash 35,000 feet
into the air and prompting the evacuation of the 10 people who
live on the eastern side of the island, officials said.
http://links.reuters.com/r/EN8ZS/7E2RD/ABC41/P12AE/GV1AP/YT/t
July 14, 2008 05:48 AM ET
ANCHORAGE, Alaska (Reuters) - A volcano in Alaska's Aleutian
chain erupted on Saturday, sending a cloud of ash 35,000 feet
into the air and prompting the evacuation of the 10 people who
live on the eastern side of the island, officials said.
http://links.reuters.com/r/EN8ZS/7E2RD/ABC41/P12AE/GV1AP/YT/t
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Iranian Situation and Other Man Made Disasters
The Geopolitics of Iran: Holding the Center of a Mountain Fortress
July 14, 2008 1007 GMT
This is the third in a series of monographs by Stratfor founder George Friedman on the geopolitics of countries that are currently critical in world affairs. (With Stratfor maps)
http://www.stratfor.com/analysis/geopolitics_iran_holding_center_mountain_fortress
July 14, 2008 1007 GMT
This is the third in a series of monographs by Stratfor founder George Friedman on the geopolitics of countries that are currently critical in world affairs. (With Stratfor maps)
http://www.stratfor.com/analysis/geopolitics_iran_holding_center_mountain_fortress
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Iran, U.S.: Washington's Major Gestures. July 14, 2008 1958 GMT. Washington recently has made two major gestures to Tehran. ... |
Bush criticizes China, Saudi, Iran on rights
Reuters via Yahoo! News Mon, 14 Jul 2008 10:46 AM PDT
President George W. Bush on Monday criticized China, Saudi Arabia and Iran on religious freedoms, but said progress had been made in some countries, including Vietnam.
Reuters via Yahoo! News Mon, 14 Jul 2008 10:46 AM PDT
President George W. Bush on Monday criticized China, Saudi Arabia and Iran on religious freedoms, but said progress had been made in some countries, including Vietnam.
Iran arrests two prominent student activists
AFP via Yahoo! News Mon, 14 Jul 2008 5:54 AM PDT
Iran has arrested two prominent student activists, the latest in a string of detentions following the anniversary of student protests nine years ago, the press reported on Monday.
AFP via Yahoo! News Mon, 14 Jul 2008 5:54 AM PDT
Iran has arrested two prominent student activists, the latest in a string of detentions following the anniversary of student protests nine years ago, the press reported on Monday.
Iran says to play tournament in U.S.
Reuters via Yahoo! News Mon, 14 Jul 2008 5:19 AM PDT
Iran's basketball team have departed for a tournament in the United States, an official said on Monday, for a rare sporting encounter between the arch-foes.
Reuters via Yahoo! News Mon, 14 Jul 2008 5:19 AM PDT
Iran's basketball team have departed for a tournament in the United States, an official said on Monday, for a rare sporting encounter between the arch-foes.
Saturday , 12 Jul 2008
Sabre rattling in the Middle East from Iran and Israel is again having a positive impact on the gold price, while other fundamentals are supportive too.
Sabre rattling in the Middle East from Iran and Israel is again having a positive impact on the gold price, while other fundamentals are supportive too.
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Opalesque’s Corner
- Opalesque Exclusive: What happened last week (7-12 July, 2008)
- Fund launches: Advantage Capital Equity Solutions to launch ABL hedge fund this month, Threadneedle launches 130/30 Global Extended Alpha fund, Advent launches what might be first 130/30 convertible bond fund, Meadowbrook rolls out healthcare focused hedge fund, Ex-fortress MD debuts Bucephalus Special Situations, an Asia Pacific fund, N.Y. firm Kier Global drops plan for emerging markets FoF
- Closures: Event-driven hedge fund Boone Capital Management liquidated after tough year
- Opalesque Exclusive: Augustus bucks market gloom as currency discretionary hedge fund returns over 22% in first year
- Performance: Opalesque Exclusive: APS China A Share fund down 22%, June worst month for China A-Shares, Opalesque Exclusive: Trident Pacific says Japan to withstand U.S. recession, non residents remain net buyers while prop desks sell, Tokyo fund Moon Light Capital gains going long pharma, short real estate, up 1.99%, Rogers` Japan fund limits June loss as others swoon, down just 85 basis points
- Strategies: Russell Investments plans rebound, embarked on strategic business review following shutting of 3 FoHFs, GLG plans to boost returns by putting environmental issues at heart of investment strategy, Short equity strategies recommended by Louis Capital for Olympic fallout, FoHF Three Rivers Management allocates to L/S managers Manalapan Oracle Eagle Fund and Eastern Advisors
- Manager Profile: New Star`s Tim Steer - Rocking, rucking and alpha returns
- Fund Profile: Troika Dialog`s investment style helps counter risk of volatility
- Rising junk default rates put hedge funds under pressure as carry trade has been hit by widening risk premium
- Quant Funds: How stock analysis based on statistics and computers sabotaged itself, Research compares quant platforms, does not find a winner
- People: Rachel Minard named president of Cogo Wolf Asset Management, MKP Capital Management hires three senior investment professionals, Brigadier hires three new VPs, FRM hires Au King-lun to head Hong Kong FoHFs business
- Fannie Mae and Freddie Mac Update: US govt has rescue plan for Fannie and Freddie, Update: Former secretary Snow says Fannie Mae, Freddie Mac followed `hedge fund` business model, SEC to probe manipulation of Lehman, Fannie Mae and Freddie Mac shares through false information, SEC promises to clamp down on markets` rumour mongers, Investors signals fears for Fannie Mae and Freddie Mac, employ complex `take under` trading strategies, Comment: Fannie, Freddie woes worse than Bear`s in some ways, Pimco`s Gross: US actions a bailout for Fannie, Freddie, Gross likes dollar more than Euro for 1st time since euro`s inception
- Bankers use secret clinics, nurses to beat breakdowns
- Regulatory: US regulators try to restore liquidity in auction-rate securities market, CFTC`s Global Markets Advisory Committee to meet on Tuesday to discuss risk management practices for direct market access, Hedge funds prove slow to adopt new code; only one HF signed Hedge Fund Working Group`s best-practice standards, UK govt sets up new financial services industry group to analyse key issues facing the sector, FSA seeks market rumors background
- Legal: FoHF Gottex sues Stewardship Investment Advisors for withholding redemptions, Northfield man Douglas Steger pleads guilty to tax shelter conspiracy, Blue River Asset Management lawsuit settled, Update: Ernst & Young wins Beacon Hill hedge fund case
- Institutions: Irish National Pensions Reserve Fund mulls hedge funds to bolster weak returns, Swedish newspaper pension fund`s HF allocation went beyond its borders
- Back office operations: Financial messaging group Swift has developed way to help streamline post-sale processing of investments, co-operation could spell end to paper mountain, Opinions diverge on who calls valuation shots when liquidity is scarce
- Comments: 8 lessons from Sir John Templeton, Stop worrying, and learn to love the bear: Take it from Graham and Buffett, these miserable markets are a gift from the financial gods
- Hedge fund risks: Measurement vs. management
- European fund industry confirms its vital role in report ahead of European Commission meeting on investment products
- Asia: Billionaire global investor Soros goes contrarian on Indian stock market, Asia wakes up to new reality as average inflation rates now above 3% trend
- Emerging and Frontier markets: Frontier markets are not for the faint-hearted, says Templeton`s Mark Mobius, West will face `mayhem` in face of emerging markets, Hexam says, Emerging markets HFs falter in H1 as commodities funds soar
- Commodities: Comment: Restricting speculators will not reduce oil prices, Graham French: Avoid paper and focus on physical assets
- Politics: Hedge fund managers throw weight behind Obama
- Activist News: U.S. Companies change bylaws to get information on activists` motives, TCI scraps bid to double its stake in J-Power, Third Point wants Phoenix CEO out, Yahoo rejects Microsoft and Icahn bid`s to split company, Japanese wig maker Aderans demands stock trading profit from Steel Partners, Harbinger Capital ups stake in Midwest
- News Briefs: European investors dash for fixed-income ETFs, UBS may have lost $37bln through trading but its M&A business earned $722m in H1, Citigroup`s $1.1tln of mysterious assets shadows earnings, Assicurazioni Generali invests Euro300m in Tenax Financials` hedge fund, Northern Trust awarded second Brevan Howard hedge fund administration mandate, new assets total $1bln, RBS set to press ahead with Chinese expansion, Private equity chief calls for code on profits, KPMG index shows M&A`s fall on low appetite, Leading institutions to establish Islamic fund management operations in Malaysia - SC approves 3 new licences
- ...And finally: Instead of a VW Bug or a phone booth, fifteen college kids cram into a dorm elevator with obvious gravitational results
- Logon: http://www.opalesque.com/index.php?act=archive
- Fund launches: Advantage Capital Equity Solutions to launch ABL hedge fund this month, Threadneedle launches 130/30 Global Extended Alpha fund, Advent launches what might be first 130/30 convertible bond fund, Meadowbrook rolls out healthcare focused hedge fund, Ex-fortress MD debuts Bucephalus Special Situations, an Asia Pacific fund, N.Y. firm Kier Global drops plan for emerging markets FoF
- Closures: Event-driven hedge fund Boone Capital Management liquidated after tough year
- Opalesque Exclusive: Augustus bucks market gloom as currency discretionary hedge fund returns over 22% in first year
- Performance: Opalesque Exclusive: APS China A Share fund down 22%, June worst month for China A-Shares, Opalesque Exclusive: Trident Pacific says Japan to withstand U.S. recession, non residents remain net buyers while prop desks sell, Tokyo fund Moon Light Capital gains going long pharma, short real estate, up 1.99%, Rogers` Japan fund limits June loss as others swoon, down just 85 basis points
- Strategies: Russell Investments plans rebound, embarked on strategic business review following shutting of 3 FoHFs, GLG plans to boost returns by putting environmental issues at heart of investment strategy, Short equity strategies recommended by Louis Capital for Olympic fallout, FoHF Three Rivers Management allocates to L/S managers Manalapan Oracle Eagle Fund and Eastern Advisors
- Manager Profile: New Star`s Tim Steer - Rocking, rucking and alpha returns
- Fund Profile: Troika Dialog`s investment style helps counter risk of volatility
- Rising junk default rates put hedge funds under pressure as carry trade has been hit by widening risk premium
- Quant Funds: How stock analysis based on statistics and computers sabotaged itself, Research compares quant platforms, does not find a winner
- People: Rachel Minard named president of Cogo Wolf Asset Management, MKP Capital Management hires three senior investment professionals, Brigadier hires three new VPs, FRM hires Au King-lun to head Hong Kong FoHFs business
- Fannie Mae and Freddie Mac Update: US govt has rescue plan for Fannie and Freddie, Update: Former secretary Snow says Fannie Mae, Freddie Mac followed `hedge fund` business model, SEC to probe manipulation of Lehman, Fannie Mae and Freddie Mac shares through false information, SEC promises to clamp down on markets` rumour mongers, Investors signals fears for Fannie Mae and Freddie Mac, employ complex `take under` trading strategies, Comment: Fannie, Freddie woes worse than Bear`s in some ways, Pimco`s Gross: US actions a bailout for Fannie, Freddie, Gross likes dollar more than Euro for 1st time since euro`s inception
- Bankers use secret clinics, nurses to beat breakdowns
- Regulatory: US regulators try to restore liquidity in auction-rate securities market, CFTC`s Global Markets Advisory Committee to meet on Tuesday to discuss risk management practices for direct market access, Hedge funds prove slow to adopt new code; only one HF signed Hedge Fund Working Group`s best-practice standards, UK govt sets up new financial services industry group to analyse key issues facing the sector, FSA seeks market rumors background
- Legal: FoHF Gottex sues Stewardship Investment Advisors for withholding redemptions, Northfield man Douglas Steger pleads guilty to tax shelter conspiracy, Blue River Asset Management lawsuit settled, Update: Ernst & Young wins Beacon Hill hedge fund case
- Institutions: Irish National Pensions Reserve Fund mulls hedge funds to bolster weak returns, Swedish newspaper pension fund`s HF allocation went beyond its borders
- Back office operations: Financial messaging group Swift has developed way to help streamline post-sale processing of investments, co-operation could spell end to paper mountain, Opinions diverge on who calls valuation shots when liquidity is scarce
- Comments: 8 lessons from Sir John Templeton, Stop worrying, and learn to love the bear: Take it from Graham and Buffett, these miserable markets are a gift from the financial gods
- Hedge fund risks: Measurement vs. management
- European fund industry confirms its vital role in report ahead of European Commission meeting on investment products
- Asia: Billionaire global investor Soros goes contrarian on Indian stock market, Asia wakes up to new reality as average inflation rates now above 3% trend
- Emerging and Frontier markets: Frontier markets are not for the faint-hearted, says Templeton`s Mark Mobius, West will face `mayhem` in face of emerging markets, Hexam says, Emerging markets HFs falter in H1 as commodities funds soar
- Commodities: Comment: Restricting speculators will not reduce oil prices, Graham French: Avoid paper and focus on physical assets
- Politics: Hedge fund managers throw weight behind Obama
- Activist News: U.S. Companies change bylaws to get information on activists` motives, TCI scraps bid to double its stake in J-Power, Third Point wants Phoenix CEO out, Yahoo rejects Microsoft and Icahn bid`s to split company, Japanese wig maker Aderans demands stock trading profit from Steel Partners, Harbinger Capital ups stake in Midwest
- News Briefs: European investors dash for fixed-income ETFs, UBS may have lost $37bln through trading but its M&A business earned $722m in H1, Citigroup`s $1.1tln of mysterious assets shadows earnings, Assicurazioni Generali invests Euro300m in Tenax Financials` hedge fund, Northern Trust awarded second Brevan Howard hedge fund administration mandate, new assets total $1bln, RBS set to press ahead with Chinese expansion, Private equity chief calls for code on profits, KPMG index shows M&A`s fall on low appetite, Leading institutions to establish Islamic fund management operations in Malaysia - SC approves 3 new licences
- ...And finally: Instead of a VW Bug or a phone booth, fifteen college kids cram into a dorm elevator with obvious gravitational results
- 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….
cupidity kyoo-PID-uh-tee, noun:
Eager or excessive desire, especially for wealth; greed; avarice.
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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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