Main News

 

Hedge funds are increasingly providing finance to their peers as banks tighten credit lines. Fund managers including ...
eFinancial News Sun, 20 Jul 2008 9:16 PM PDT
Hedge funds are increasingly providing finance to their peers as banks tighten credit lines. Fund managers including Cerberus Capital Management and SAC Capital Advisors in the US have established direct finance arms which could lend to hedge funds.

 

Celent Finds That With Volatility, Skills and Alpha Are Back
By: Emma Trincal, Senior Financial Correspondent
Posted: 07/21/2008 4:23:18 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15145.html

 

CDS prices jump for many eurozone countries
Prices of credit-default swaps for Italy, Spain, Greece, Portugal and Ireland have increased, while CDS prices for Germany and France have stayed fairly even. Many investors think the two largest eurozone economies will weather the storm better than others. "For a long time the economic environment was benign, but the party has now come to an end for the eurozone and particularly the peripheral economies, such as Italy and Greece," said Thomas Mayer, Deutsche Bank's chief European economist. Financial Times (20 Jul.)

 

'Gloomy' forecast for UK economy *
The economic outlook for next year is looking gloomier as business confidence sags, top forecasters suggest.
Full story:
http://news.bbc.co.uk/go/em/-/1/hi/business/7516197.stm

 

 

Saturday , 19 Jul 2008
With the global oil price suffering a significant correction in the past few days, gold too is showing signs of weakness, but the oil price and gold price should decouple as the one is a commodity and the other ‘money'.

 

Fortress Looks for the Bottom, Again<http://www.hedgefund-index.com/newstoday.asp>
Source: The Wall Street Journal
Fortress Investment Group LLC thought the bottom of the mortgage market was near.

 

Treasury, Ackman Plans for Fannie and Freddie Criticized
By: Emma Trincal, Senior Financial Correspondent
Posted: 07/21/2008 2:50:43 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=peop&story=peop3542.html

 

A look behind the hedge fund curtain
Hedge World Mon, 21 Jul 2008 2:54 PM PDT
The Carbon Ratings Agency , launched on June 25, aims to help establish carbon as an efficient global asset class through independent ratings of Clean Development Mechanism, Joint Implementation or voluntary projects, portfolios or carbon-linked instruments.

 

DTCC, Markit Form OTC Initiative
By: Maggie Shea, Financial Correspondent
Posted: 07/21/2008 6:04:47 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=tech&story=tech3567.html

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Yield Curve Corner

 

Fed Chairman Bernanke's personal finances are no-frills
USA Today - USA
AP By Jeannine Aversa, AP Economics Writer WASHINGTON — Federal Reserve Chairman Ben Bernanke's financial disclosure form, released Monday, ...

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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/TRCcrisdolly203_G12.jpg

 

 

 

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Iranian Situation and Other Man Made Disasters

 

 

Iran tops EU foreign ministers' agenda
AP via Yahoo! News Mon, 21 Jul 2008 8:58 AM PDT
Efforts to persuade Iran to stop enriching uranium will top the agenda of a European Union foreign ministers' meeting Tuesday after Tehran stonewalled world powers on the issue over the weekend.

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Opalesque’s Corner

 

- Opalesque Exclusive: New Research from Man Group: Attack of the hedge fund clones - Investable indices, Alternative beta, 130/30, Permanent capital
- Opalesque Exclusive: What happened last week? 14-18 July, 2008
- Opalesque Exclusive:  Reaching the next asset raising goal - Part Three:  strategic partnership deal trends and the targeting the IPO market
- Fund launches: Opalesque Exclusive: Talisman Global A.M. and Cambridge Place I.M. launched Talisman/CPIM European Property Debt Opportunity Fund with Eur50m, Opalesque Exclusive: Conservative Concept launches new UCITS III fund, Arcadia activist hedge fund seeded by MD Sass to launch next month, SAC Capital analyst Jay Hatfield to launch L/S equity fund, Diamond Notch`s maiden multi-strat hedge fund opens to outside investors, Aurarian plans clean energy hedge fund for October
- Closures: Tel-Aviv based broker Excellence winds down emerging markets hedge fund
- Performance: Fortress bet mortgage bonds 3 months ago and fund down about 30%, but might it be right now?
- Assets: HFR: Flow of capital into hedge funds continued to slide in Q2, allocation shifts from relative value to macro strategy, overall industry assets up to $1.931trn
- Thames River celebrates 10th anniversary, still not interested in going public
- M&A: J.&W. Seligman acquired by Ameriprise financial
- JV: Sceptre Investment Counsel and Fairfield Greenwich Group announce venture to provide alternative investment management products to Canadian investors
- Manager profiles: Dexia`s FoHF manager Kris de Souter has ambitions to inject fresh blood into the 150-year old institution, `The UK`s first multi-asset alternative investment fund`: Imitation is flattering for Skandia, One Paulson gets it right, Credit Opportunities fund up 10.48%, Credit Opportunities II up 12.12%
- People: Opalesque Exclusive:  Former JP Morgan exec Peres joins EIM`s US team as Director of Risk Management, Mehmet Dalman takes lieutenants to Toscafund, Covepoint hedge fund hires senior BlackRock executive David Pilson and Morgan Stanley`s Mark Strachan, Goldman`s Ken Wilson to advise Hank Paulson on banking
- Fannie Mae and Freddie Mac Update: Freddie Mac moves toward stock sale,  Treasury welcomes Freddie Mac`s continued efforts at fundraising, With Fannie, Freddie, what`s good for bondholders is good for HFs
- Credit Crunch Update: Citigroup posts Q2 loss of $2.5bln, Union presses Citigroup to break up, Analysts see much higher 2008 loss for Merrill, Wall Street can`t say if Thomas Montag will help Merrill, Merrill and Citi set market tone (video), Regional US banks fear cash calls, U.S. Treasury Secretary Henry Paulson says banks are `safe and sound`, Slim demand for Barclays` offer gives Qatar 8% stake, UK`s HBOS: shareholders purchased fewer than 10% of shares, Credit risk diverges across eurozone
- The brutal selloff in financial stocks may finally be over - mostly, Markets gyrations shaking up trading relationships between different financial assets
- Regulatory: Guidance Regarding the US SEC's Emergency Order Concerning Short Selling, Curbing short sellers (video), U.S. Sen. Cantwell blocks CFTC nominations, says agency failed to regulate oil markets, SEC staff says HFs not under cash solicitation rule, Comment: On Aima`s first guide to sound practices for FoHFs, Australian lawmakers take aim at short selling
- Commentaries: Never have so many short sellers made so much money with stocks, over $1.4tln equities on loan, Short-selling holds up a mirror to corporate reality, Clumsy SEC arrives late, SEC pips squeak. Bankers: Us too!, Markets police themselves poorly, but regulation has its flaws
- Legal: U.S. may seek more charges against Ex-Bear managers Cioffi and Tannin, Caymans` police arrest man in connection with failed `Grand Island` hedge funds
- Europe: Northern Rock Update: Former investor Jon Wood of SRM Global accuses UK MPs of `theft`, Fund managers count cost of Mifid implementation: trading cost analysis voted top priority in survey, BOE`s Blanchflower says UK economy `going into recession`
- Middle-East: Robeco signs deal for sharia asset management venture, Bahrain-based Family Office Company completes $31.5m placement for key fund
- Asia: Hedge fund investment in Japan down 10% over past 6 months, Bank Central net may rise 7.2% on Indonesian loans, Asian markets gain after oil prices sink
- Scientists are showing how to erase your fright so your portfolio survives: mental training key
- Commodities: Gold may benefit as oil falls, Platinum and palladium fell last, investors decreased net positions
- Exchanges: CME Group and NYMEX Holdings approve revised merger agreement, SWX wins dark pool backers, may be first in Europe to offer dark pool trading facility
- Accounting: US rule changes could hit banks
- Events: ALTSO`s 5th annual Hedge Fund Rocktoberfest, October 16, NYC, Sound practices for hedge fund managers presented by MFA today in Boston
- SWFs: HSBC rises on report of CIC investment, Merrill disappoints SWFs on BlackRock
- Activist News: Goldstein and Icahn top list of US activists, Napster takeover looms as hedge funds see cash exceed stock, Loeb hedge fund may seek board seats at Core-Mark, Silver Point plans to take over 17.9% stake in INV, Inmarsat shares dive after Harbinger Capital suspends talks
- News Briefs: Premier renames FoFs to reflect use of alternative assets, Hedgecasa combine with ARC-FS to form hedge fund services platform
- ...And finally:  No sagging pants in Chicago suburb: Police to patrol with ruler to impose new 3 inch rule
- 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….

 

supernumerary soo-puhr-NOO-muh-rair-ee; -NYOO-, adjective:

1. Exceeding the stated, standard, or prescribed number.
2. Exceeding what is necessary or desired; superfluous.
3. A supernumerary person or thing.
4. An actor without a speaking part, as a walk-on or an extra in a crowd scene.

 

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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.