Main News

 

Fitch Upgrades 2 and Downgrades 3 Classes of Archimedes Funding ...
MarketWatch - USA
Fitch reviewed this transaction in accordance with its updated criteria released on April 30, 2008 for Corporate CDOs. At that time, Fitch noted it would be ...

 

Quant Manager Eschews Stop Losses as 'Risky'
By: Martin de Sa'Pinto, Senior Financial Correspondent
Posted: 07/25/2008 3:02:12 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=peop&story=peop3550.html

 

The Market's Down, Not DoomedAN INTERVIEW WITH LEE COOPERMAN AND STEVEN EINHORN: The ingredients for a bottom are in place -- but any significant upside will require help.
http://online.barrons.com/article/SB121702592948286145.html?mod=djemWR

 

Basel Committee releases incremental risk charge proposal
The Basel Committee on Banking Supervision has released revised proposals for the charging of capital for incremental risk in the trading book, after warning in April that it would modify aspects of the Basel II framework.

 

Julius Baers Hedge Fund Hit With Outflows Swiss private bank Julius Baer reported that its hedge fund firm GAM suffered CHF 29 billion ($28 billion) in outflows during the first half of this year. [more]

 

Citigroup Is Accused In Its Hedge Fund's Flop
Wall Street Journal - USA
By DAVID ENRICH The former manager of a Citigroup Inc. hedge fund that collapsed this year has filed a complaint accusing company executives of causing the ...

 

 

A Return to the Cold War?
July 25, 2008 1313 GMT
Russian media have been rife with rumors, confirmations — and now denials — that Moscow might send nuclear-capable strategic bombers to Cuba. An interpretation of the press play, and the message being sent to Washington.
http://www.stratfor.com/podcast/return_cold_war

 

Rich From the Fall, Richer From the Rise
Conde Nast Portfolio - New York,NY,USA
The hedge fund manager John Paulson is planning to raise a new fund to provide capital to financial firms that have been hurt by bad investments, ...

 

Dispute Over the Value of 'Good Governance'
By: Christopher Faille, Senior Financial Correspondent
Posted: 07/25/2008 3:39:46 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15168.html

 

Better Days Ahead in Emerging Markets: Gerken
By: Jacob Bunge, Financial Correspondent
Posted: 07/25/2008 3:53:06 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=peop&story=peop3552.html

 

Hedge funds take stock after oil volatility
Financial Times Sun, 27 Jul 2008 3:33 PM PDT
When Dennis Crema and Pierre Andurand started BlueGold in February, the London oil traders warned investors in their new hedge fund to expect volatility.

 

Stagflation and Peak Oil: How Related Are They? (Part I)
Seeking Alpha - New York,NY,USA
Ben Bernanke and other heads of the Central Banks will definitely earn this keep in the next few years. Bernanke, in particular, might have to choose ...

 

Bank of China Buys 30% of Swiss Hedge Fund Manager
By: Martin de Sa'Pinto, Senior Financial Correspondent
Posted: 07/25/2008 2:40:10 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15166.html

 

New York sues UBS, alleges auction-rate fraud
July 25, 2008 06:01 AM ET
NEW YORK (Reuters) - New York State sued UBS AG on Thursday,
accusing the Swiss bank of committing a "multi-billion dollar
fraud" by steering broker clients into auction-rate securities
that became impossible to sell once the credit market tightened.
http://links.reuters.com/r/ASTCI/5YZF1/L7KJV/UGI7L/2PA2L/YT/t

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Yield Curve Corner

 

Obama gives Bernanke vote of confidence
Reuters - USA
CHICAGO (Reuters) - Presidential candidate Barack Obama gave a vote of confidence to Federal Reserve Chairman Ben Bernanke, saying he had made some good ...

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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/TRCgenevieve207_G11.jpg

 

Hurricane Dolly Tab May Reach $1.2B
Source: Reactions
U.S. insured losses from Hurricane Dolly will be between $300 million and $1.2 billion, with an expected mean loss of $600 million.

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Iranian Situation and Other Man Made Disasters

 

 

 

Iran hangs 29 drug traffickers, murderers, rapists
AFP via Yahoo! News Sun, 27 Jul 2008 5:21 AM PDT
Iran on Sunday hanged 29 men convicted of offences including drug trafficking, murder and rape in the largest mass execution in years as the country says it is fighting increasing crime.

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Opalesque’s Corner

 

- Opalesque Exclusive:  Washington reaches out to Greenwich as the US President sends an economic emissary to initiate a dialogue with hedge funds about the industry and the larger markets
- Fund launches: Ex-JPMorgan director Richard Schmidt sets up Oranda emerging markets hedge fund
- Performance: Cannonball Stability Fund returns 6.51% YTD, positive 6 straight months, A time for pruning: Signs that the hedge-fund industry is growing more slowly
- Assets: GSA plans to raise further $200m - $300m for Alpha Capture hedge fund, Update: Ex-Sowood hedge fund manager raising capital for new fund, Janus Capital AUM climbed by $4.2bln in Q2
- Update and correction: Absolute Capital does not face Eur500m in redemptions
- Views: Ignore the press: Hedge funds still a viable investment
- Allenbridge Hegdeinfo rates Unicorn multi-strat FoFs AA
- M&A: Several manager deals despite M&A slowdown, management buyouts more frequent, St James`s Place under spotlight amid takeover talk
- NY Times: William Browder an example of what happens to those who do not toe the government`s line, Investing in Russia? How the multi billion Hermitage Fund almost got hijacked
- PE firms and hedge funds taking a second look at investing in beaten-up banks, banks more receptive to interest as stock rebound
- People: Ex-Morgan bond seller goes to HF Avravali
- Credit Crunch Update: PIMCO estimates $1tln of cumulative credit crunch losses, Fed weighs plans to spur bank investment by LBO firms, US financial stocks in worst fall since 2000, fears over Washington Mutual and weak housing data, Citi may take $7bln more in writeoffs, Morgan Stanley says, JPMorgan leads possible HBOS break-up, Managed assets come under pressure at UBP, Blackstone to bet on subprime market together with Florida`s Bayview Financial, S&P warns on bank downgrades
- Regulatory: SEC looks to expand short rule to entire market, SEC looks at new rules to curb abusive short-selling, FSA defends short-selling rules, CFTC energy market probe (video), Comment: Quattrone takes aim at regulatory hurdles for start-ups to go public
- Legal: Kerviel`s new defense says SocGen tolerated unauthorized trades, CFTC charges Optiver with oil-market manipulation, Late-Michael Klein`s estate slammed with two lawsuits, Update: NY Attorney General sues UBS for securities fraud, Cuomo warns: `We are looking at a number of other banks`, City of Los Angeles sues Wall Street banks, bond insurers for fraud, antitrust
- Alpha Magazine ranking: The 25 largest single-manager hedge fund firms in Asia
- Asia: Indian fund regulation: `If you want to register your hedge fund in India, simply call it a L/S fund`, Indian groups opting for London listings, Comment: Indian confidence vote good news for economy, says F&C`s Mahtani, Survey shows record growth in Hong Kong`s fund management business, Hong Kong`s 1H mainland investment up 95%, raising `hot money` questions, Korea pension fund eyes foreign bank stakes
- LatAm: Brazil opens up, new rules to invest 100% outside the country
- Morgan Stanley upgrades global emerging markets, raises equities weighting
- First-ever climate change vulnerability index identifies most and least vulnerable countries and companies
- Commodities: Interview: Threadneedle supports commodity super-cycle view, US agricultural commodity price increases: Spurring a new farm crisis?, Big swings on commodity markets set to stay, investors now more dominant, Comment: If there is a speculative commodities bubble, we`re in the early stages of its deflation, Iran, China figure in oil predictions
- Exchanges: CME turns to BofA and UBS for NYMEX purchase financing, CME may buy stake in Indian FX market
- Tech Update: Hunger for excess returns drives systems development, 141 Capital prepares to launch CTA service in Q3, FPA and Albridge Solutions announce availability of First Practitioner Technology Report
- Book Review: Soros could be wrong: Gavekal believes US is efficient at dealing with credit crunch
- News Briefs: Hedge Funds Care Cayman names grantees, Scholar warns proxy advisers face rising pressures,  Boise Inc. joins Chicago Climate Exchange
- . and Finally: `Doc, it`s not very reassuring,` Vultures prey on surgery patients` peace of mind
- Logon: http://www.opalesque.com/index.php?act=archive

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Misc. Items of Interest

 

Report: N.Y. Area Is Powerhouse Economy of U.S.
Inclusion of Greenwich and Stamford, Conn., Plays Big Role
BY GRACE RAUH - Staff Reporter of the Sun
New data show the New York metropolitan area is the largest contributor to America's gross domestic product, but its position at the top of the national ranking may be due more to the inclusion of neighboring economic powerhouses such as Greenwich and…

 

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Funnies, Facts, Quotes, etc….

 

diadem DY-uh-dem, noun:

1. A crown.
2. An ornamental headband worn (as by Eastern monarchs) as a badge of royalty.
3. Regal power; sovereignty; empire; -- considered as symbolized by the crown.
4. To adorn with a diadem; to crown.

 

sempiternal sem-pih-TUR-nuhl, adjective:

Of never ending duration; having beginning but no end; everlasting; endless.

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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.