Main News

 

Fed Report Portrays Stressed Economy
The economy has continued slowing this summer across most of the nation as prices keep rising sharply, according to a report by the Federal Reserve, indicating that the squeeze that has made times tough for Americans throughout 2008 shows no sign of letting up.
(By Neil Irwin, The Washington Post)

 

Anti-Speculation Bill Collides With Continental Shelf
By: Christopher Faille, Senior Financial Correspondent
Posted: 07/24/2008 3:33:19 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1358.html

 

Does Short-selling Need the SEC's Oversight?
"There's really nothing illegal about it" is a phrase often heard in descriptions of the practice of shorting, or short-selling, which are essentially bets that a stock price will decline. But after some market watchers accused short-sellers of unfairly depressing the stock prices of several key financial institutions, the Securities and Exchange Commission imposed new rules. Wharton finance professors Marshall Blume and Franklin Allen suggest the impact will be minimal.
http://knowledge.wharton.upenn.edu/article/2021.cfm

 

Wall Street Shrinks From Competing With Fannie Mae, Freddie Mac
Bloomberg - USA
Cooper, the manager of Courtesy Cleaning Center on the city's south side, said she didn't understand it was a subprime mortgage, reserved for borrowers with ...

 

Soros Could Be Wrong
By: Emma Trincal, Senior Financial Correspondent
Posted: 07/24/2008 5:52:09 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=edsk&story=edsk294.html

 

The 50,000-Foot View from a $140 Million FOF
By: Maggie Shea, Financial Correspondent
Posted: 07/24/2008 4:02:37 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15161.html

 

Brazil's central bank surprises with size of rate hike
Brazil's central bank signaled its determination to battle inflation by raising interest rates more than expected for the second time in three meetings. Policymakers raised the bank's overnight-lending rate by 0.75 percentage point to 13%. "The tightening doesn't stop here," said Marcelo Carvalho, Morgan Stanley's chief economist for Brazil. Bloomberg (24 Jul.)

 

 

HF Managers Flock to Singapore, Assets Double in 2007
By: Martin de Sa'Pinto, Senior Financial Correspondent
Posted: 07/24/2008 12:00:55 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15157.html

 

Water Over the Dam
July 23, 2008 1846 GMT
A decision two weeks ago by the Denver Water Board to close a road running over Dillion Dam provides an opening to examine the factors and feasibility involved in a potential threat to contaminate the water supply there or elsewhere.
http://www.stratfor.com/weekly/water_over_dam

 

Sovereign Wealth Assets To Triple
As oil and gas prices rise, sovereign wealth funds, which own about $3 trillion in assets, may almost triple their investments in the next five years, State Street Corp. said.

 

 

CFTC Rolls Out Energy Manipulation Charges
By: Jacob Bunge, Financial Correspondent
Posted: 07/24/2008 6:06:31 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1360.html

 

Big Swings on Commodity Markets Set to Stay
By: Reuters
Posted: 07/24/2008 10:58:40 AM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1357.html

 

GLOBAL – Institutional investors are not to blame for rising agricultural prices, the Managed Fund Association (MFA) in the US has concluded.

 

Wednesday , 23 Jul 2008
The sharp decline in the oil price of the past few days has dragged precious metals down with it, but this pattern may not be justified by reality.

 

PRMIA announced the release of its Associate Professional Risk Manager (Associate PRM) certificate. The Associate PRM is a new and innovative PRMIA certificate program intended for staff entering the risk management profession, or those who interface with risk management disciplines on a regular basis, such as auditing, accounting, legal, and systems development personnel who want to understand fundamental risk management methods and practices.

Full Story...

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Yield Curve Corner

 

Geithner Seeks `Important Role' for Fed in Financial Oversight
Bloomberg - USA
The House panel, chaired by Massachusetts Democrat Barney Frank, held an initial hearing on the topic July 10 with Bernanke and Treasury Secretary Henry ...

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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. says election won't ease pressure on Iran
Reuters via Yahoo! News Thu, 24 Jul 2008 12:20 PM PDT
Iran would be wrong to believe it will be "off the hook" over its disputed nuclear program during the transition to a new U.S. administration, a U.S. official said on Thursday.

 

Iran official hopeful new nuclear talks can begin
Reuters via Yahoo! News Thu, 24 Jul 2008 5:00 AM PDT
The head of Iran's atomic energy organization said on Thursday he was hopeful negotiations could start based on proposals made by Iran and the six powers at recent talks in Geneva.

 

Barr: War with Iran would be a disaster
UPI Thu, 24 Jul 2008 12:04 PM PDT
WASHINGTON, Conn., July 24 (UPI) -- Bob Barr, the U.S. presidential candidate of the Libertarian Party, said the Bush administration's diplomatic engagement with Iran is "long overdue."

 

Iran: Nuclear Chief Calls For Merger Of Proposals
July 24, 2008 1327 GMT
After meeting with International Atomic Energy Agency (IAEA) Director General Mohamed ElBaradei...
http://www.stratfor.com/sitrep/iran_nuclear_chief_calls_merger_proposals

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Opalesque’s Corner

 

- Opalesque Exclusive: UCITS III, the European travelling funds - part 3 - Advent Capital Management launches first UCITS III as `Active Extension` (and NOT 130/30), a first in convertible space
- Opalesque Exclusive: Drexel alums` Hegemony launches 2 funds, discusses `double standards` and was the credit crisis really God`s fault?
- Fund launches: UBS Global A.M. launches US fundamental equity market neutral strategy, Ex-Soros distressed head Bill Seibold launches L/S event driven fund
- Crosby Forsyth Alternative Income FoHF halts redemptions
- Performance: SVM Highlander fund up 13.95% in June, fund`s net short stance helped, Investcorp full-year profit halves on asset income
- Christie Street Capital looks for institutional money
- Indices: State Street Investor Confidence Index rises from 79.0 to 82.6 in July
- Stakes: Nippon Life takes stake in Russell Investments, Affiliated Managers invests in two investment managers: Harding Loevner and BofNY Mellon`s Gannett Welsh & Kotler
- Strategies: Long energy, short financials trade `almost over`
- Institutions: L.A. Fire & Police seeks emerging FoHF managers, Japanese, Aussie pension funds look to India
- Other Voices: The operational challenge of multi-prime brokerage
- HFN launches quantitative tool for ranking hedge funds and FoFs
- People: Fortress taps First Quadrant pro Anna Chefter as chief risk officer, Credit hedge fund Aravali hires Morgan Stanley`s David McMahon, DKR Fusion appoints Daniel Rizzuto as president, Charles Schwab stepping down as CEO of his brokerage
- Fannie Mae and Freddie Mac Update: US housing rescue plan approved, Paulson now able to inject capital in Fannie and Freddie and to create new regulator, Wall Street rises on removal of presidential veto threat, investors buy Fannie and Freddie shares, Investor Marc Faber says Freddie, Fannie should split, not get aid
- Credit Crunch Update: No plans to split Citigroup, says CFO, Lehman likely to make sizable asset sale, says UBS, Goldman`s new $10bln fund to invest in LBO loans, latest example of increasing convergence between PE and debt investing, Credit Suisse Group reports net income of CHF 1.2bln in 2Q 2008, up 159% from 1Q, China`s banks told to tighten mortgage lending criteria
- Regulatory: MFA urges Senate to reject energy speculation bill, Bill to curb energy speculation advances in Senate, India not to extend futures ban to new commodities
- Tax Update: Senate panel probes US tax-shelter activity in Cayman Islands, 38% of investigated entities are PE and HFs, Property derivatives set to flourish under new US tax regime
- Legal: Investors in Citigroup`s Falcon HF drop lawsuit over tender offer, Aeneas hedge fund settles SEC probe of cash transfers, Former Cazenove partner faces prosecution over alleged insider dealing, San Diego sues BofA to block foreclosures, city wants to become foreclosure sanctuary, Comment: Sullivan joining Cioffi`s defense in Bear Stearns case may indicate massive legal battle ahead
- Europe: AIMA says Italian fund proposals should boost hedge fund industry, UBS to stop offshore banking for US residents, Julius Baer says GAM hedge fund unit not for sale despite massive outflows
- Africa: Julius Baer fund to move deeper into (northern and sub-Saharan) Africa
- Middle East: Lionhart gets regulatory approval to open Dubai office
- Asia: Singapore fund management assets boosted by hedge funds, AUM grew 32% last year, Interview: Deutsche AM prefers developed Asia over emerging Asia, Deutsche Bank economist: Inflation is Asia`s problem, not the world`s
- Environmental Investing: HSBC launches climate change fund, HSBC Insurance helps travelers offset their pollution, World leaders endorse nuclear power
- Commodities: Water is the new oil, says CEO of Canadian hedge fund Sextant Capital, Crude and food falls help lift equities, talks of undiscovered oil and gas in Artic, Sophisticated crude humor, Fund manager energy plays (video)
- Tech Update: AlphaMetrix launches seamless, integrated data service for investors and trading managers, Korea`s Leading Investment & Securities to provide algorithmic trading services to clients
- Events: 100 Women in Hedge Funds` late summer charity garden party - `Hats & Pimms`, Geneva, September 4, 4th edition of EDHEC Alternative Investment Days, London, December 9, 10, 2008
- Yoga bears: HF managers discover yogic benefits
- Mercer`s 2008 Cost of Living survey: Moscow still most expensive city, weakening US$ changes landscape
- Activist News: TCI, 3G Capital urge CSX to seat board, Delphi creditors sue HF Appaloosa for alleged fraud
- News Briefs: Funeral home / cemetery owner lures hedge fund bets on boomer deaths, UK mortgage approvals hit new record low in June, Merkel warns of fall in German economic growth, North African and Asian blue chip and broad Asia Pacific ex-Japan indexes licensed to BNP Paribas AM, New Zealand cuts rates to cool inflation
- . and Finally: Lack of sleep found brain drain....Excuse me, what`s your name again?
- Logon: http://www.opalesque.com/index.php?act=archive

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Misc. Items of Interest

 

Apple Lists Quake Insurance, Not Jobs' Health, Among Risks

CNNMoney.com - Related articles »

 

Slideshow: 9 Daring Ideas That Blend Fashion and
Sustainability | by Saabira Chaudhuri
Being a tree hugger has never been quite this trendy.
Here's a look at nine quirky green friendly designs that
are fashionably far from the ordinary.
http://trax.fastcompany.com/k/w/mailman/fasttake/20080724/eco_quirky

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Funnies, Facts, Quotes, etc….

 

melange may-LAHNZH, noun:

A mixture; a medley.

You Can Take That to the Bank...Not! | by Tom Stern
A Kick In the Career: In this week's column, humorist
and career expert Tom Stern takes a stab at the banking
industry, but promises there's light at the end of the
tunnel.
http://trax.fastcompany.com/k/w/mailman/fasttake/20080724/tomstern_bank

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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.