Archive: 07/29/2008
Main News
Hedge funds take stock after oil volatility
Financial Times Sun, 27 Jul 2008 8:41 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.
Financial Times Sun, 27 Jul 2008 8:41 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.
Hedge Funds Sell Oil as Ratio to Gold Narrows
By: Reuters
Posted: 07/28/2008 1:01:45 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1362.html
By: Reuters
Posted: 07/28/2008 1:01:45 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1362.html
Einhorn Expects More Pain Before a Recovery
New York Times Mon, 28 Jul 2008 5:23 AM PDT
David Einhorn, the hedge fund manager who gained fame by challenging Lehman Brothers on the state of its financial health, is looking for investments in distressed debt — but thinks prices have further to fall.
New York Times Mon, 28 Jul 2008 5:23 AM PDT
David Einhorn, the hedge fund manager who gained fame by challenging Lehman Brothers on the state of its financial health, is looking for investments in distressed debt — but thinks prices have further to fall.
Banks boost risk controls
After Citigroup's International Personal Bank faced anti-money laundering concerns this month, private banks are increasing their client vetting and risk controls.
http://mail2.efnmail.co.uk/r/383711/MTk4MTI1OjE4MDk1/
After Citigroup's International Personal Bank faced anti-money laundering concerns this month, private banks are increasing their client vetting and risk controls.
http://mail2.efnmail.co.uk/r/383711/MTk4MTI1OjE4MDk1/
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A Suckers' Rally? Portfolio.com via Yahoo! Finance Mon, 28 Jul 2008 10:30 AM PDT Rising stocks and falling oil prices are blows to some hedge fund strategies, but it ain't over yet. |
The New Investor Chic
Portfolio.com via Yahoo! Finance Mon, 28 Jul 2008 8:57 AM PDT
Watch out, Monsieur. The wardrobes of CEO's, Private Investors, and Hedge Fund Managers are under as much scrutiny these days as their spreadsheets - and their love lives. In today's New York Times' Business section, the lead story is ...
Portfolio.com via Yahoo! Finance Mon, 28 Jul 2008 8:57 AM PDT
Watch out, Monsieur. The wardrobes of CEO's, Private Investors, and Hedge Fund Managers are under as much scrutiny these days as their spreadsheets - and their love lives. In today's New York Times' Business section, the lead story is ...
Appaloosa to GM: Fish or Cut Bait
By: Christopher Faille, Senior Financial Correspondent
Posted: 07/28/2008 5:05:50 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15173.html
By: Christopher Faille, Senior Financial Correspondent
Posted: 07/28/2008 5:05:50 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15173.html
SEC Obtains Asset Freeze in the United Kingdom Against Hedge Fund Principal
By: Barry R. Goldsmith and Daniel H. Ahn, Gibson, Dunn & Crutcher LLP
Posted: 07/28/2008 12:23:12 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=edsk&story=edsk296.html
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China: The CDB's Defiant Move. July 28, 2008 | 1837 GMT. Barclays bank sign in London. Leon Neal/AFP/Getty Images. A Barclays bank branch in London. Summary ... |
MARKIT BUYS JPMORGAN LOAN SOFTWARE UNIT
London-based financial information vendor Markit has signed a deal to acquire FCS, a unit of JPMorgan Chase that provides portfolio and risk management software to syndicated loan market participants. Financial terms of the deal were not disclosed.More on this story: http://www.finextra.com/fullstory.asp?id=18790
London-based financial information vendor Markit has signed a deal to acquire FCS, a unit of JPMorgan Chase that provides portfolio and risk management software to syndicated loan market participants. Financial terms of the deal were not disclosed.More on this story: http://www.finextra.com/fullstory.asp?id=18790
KKR's Big Plans The firm's planned IPO could make it a bigger player on a weakened Wall Street. Read More
Morgan Stanley Muffs Its Math
The money managers at Morgan Stanley evidently have a little problem with their math.
The money managers at Morgan Stanley evidently have a little problem with their math.
Mitsubishi Asset Brains Plans to Start a Fund of Hedge Funds
Bloomberg - USA
The company has hired a hedge fund manager who will start in August, he said. Mitsubishi Asset Brains aims to tap growing demand for funds of hedge funds ...
See all stories on this topic
Bloomberg - USA
The company has hired a hedge fund manager who will start in August, he said. Mitsubishi Asset Brains aims to tap growing demand for funds of hedge funds ...
See all stories on this topic
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UN Pension Fund Beats Benchmarks The United Nations Joint Staff Pension Fund reported a funding level of 147% and an actuarial surplus of 0.49%, according to the 2008 annual reports.Read more |
China's Cars, Accelerating A Global Demand for Fuel
SONGJIANG, China N odding his head to the disco music blaring out of his car's nine speakers, Zhang Linsen swings the shiny, black Hummer H2 out of his company's gates and on to the spacious four-lane road.
(By Ariana Eunjung Cha, The Washington Post)
SONGJIANG, China N odding his head to the disco music blaring out of his car's nine speakers, Zhang Linsen swings the shiny, black Hummer H2 out of his company's gates and on to the spacious four-lane road.
(By Ariana Eunjung Cha, The Washington Post)
The spoils of near record-high oil prices are still rolling into the U.S. oil and gas industry, but not all sectors are benefiting equally.
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Yield Curve Corner
If It Is a Recession, the Longest in a Quarter Century?
Wall Street Journal Blogs - New York,NY,USA
Federal Reserve Chairman Ben Bernanke, before joining the central bank early this decade, served on the NBER committee when it declared the start of the ...
Wall Street Journal Blogs - New York,NY,USA
Federal Reserve Chairman Ben Bernanke, before joining the central bank early this decade, served on the NBER committee when it declared the start of the ...
So Long, Capitalism
Barron's - USA
Make room for Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke. Their intention is to protect the financial system from a far ...
See all stories on this topic
Barron's - USA
Make room for Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke. Their intention is to protect the financial system from a far ...
See all stories on this topic
Oil rises on Nigerian attack, Iran nuclear worries
AP via Yahoo! News Mon, 28 Jul 2008 12:12 PM PDT
Oil prices rose Monday, approaching $125 a barrel after militants sabotaged two oil pipelines in Nigeria and Iran claimed that it had doubled the size of its nuclear program but signaled a willingness to work with the U.S.
AP via Yahoo! News Mon, 28 Jul 2008 12:12 PM PDT
Oil prices rose Monday, approaching $125 a barrel after militants sabotaged two oil pipelines in Nigeria and Iran claimed that it had doubled the size of its nuclear program but signaled a willingness to work with the U.S.
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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/TRCfungwong210_GJ.jpg
Typhoon kills one in Taiwan, heads for China
July 28, 2008 05:03 AM ET
July 28, 2008 05:03 AM ET
TAIPEI (Reuters) - A typhoon dumped up to 700 mm (28 ins) of rain on Taiwan on Monday, killing one person, injuring five, causing widespread flooding and closing businesses and financial markets
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Iranian Situation and Other Man Made Disasters
Iran seeks "common ground" with West: Ahmadinejad
Reuters via Yahoo! News Mon, 28 Jul 2008 8:25 AM PDT
Iranian President Mahmoud Ahmadinejad said on Monday that Iran will seek "common ground" with the United States and five other world powers that have proposed incentives for Tehran to freeze its nuclear enrichment program.
Reuters via Yahoo! News Mon, 28 Jul 2008 8:25 AM PDT
Iranian President Mahmoud Ahmadinejad said on Monday that Iran will seek "common ground" with the United States and five other world powers that have proposed incentives for Tehran to freeze its nuclear enrichment program.
Geopolitical Diary: Iran's Role in Afghanistan
July 28, 2008 0202 GMT
While the world focuses on the Pakistani factor in the military situation in Afghanistan, Iran's important role in Afghanistan has not caught the international spotlight.
http://www.stratfor.com/analysis/geopolitical_diary_irans_role_afghanistan
July 28, 2008 0202 GMT
While the world focuses on the Pakistani factor in the military situation in Afghanistan, Iran's important role in Afghanistan has not caught the international spotlight.
http://www.stratfor.com/analysis/geopolitical_diary_irans_role_afghanistan
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Opalesque’s Corner
- Opalesque Exclusive: What happened last week? 21-25 July, 2008
- Alternative energy investing: Opalesque Exclusive: Pickens Plan shortfalls and the gains to be made for hedge funds investing in the value chain
- Fund launches: Marshall Wace hires Morgan`s head of Asian Proprietary trading to set up financials fund, Blossom I.M. launches long-biased sustainable hedge fund, Unigestion to launch two FoFs: a hybrid FoFs and a fund of Australasian HFs, Roxbury Capital launches market-neutral hedge fund, SHK Financial, in collaboration with Dubai-based Algebra Capital, rolls out long-only absolute return fund Mena fund, Armajaro to add sugar fund to commodity fund offering, Mitsubishi Asset Brains plans to start a fund of hedge funds in next 2 to 3 years
- Performance: Hedge funds Harbinger, Clarium struggle (down up to 12% in July) as popular bets fail, Scoggin Capital Management suffers in H1, but sees markets turning, Investors divided over value of short-biased equities funds, up 11.62% in H1 2008 but volatile
- Assets: Toscafund attracts $800m of new money
- Bank of China buys 30% of Swiss hedge fund manager Heritage, Channel Islands investment manager Dawnay Day Milroy rebrands as Corazon Capital Management after MBO, India`s JM Financial sells 12% fund unit stake to three hedge funds
- Strategies: Fund manager Einhorn awaits further price falls for distressed debt
- Manager profile: Rewarding Voyages: James Harmon now addresses frontier markets, Caravel Fund has annualised 29.55% since inception
- Comment: On blocked redemptions: How many FoHFs have a liquidity mismatch?
- Views: Julius Baer`s head of investment products says future belongs to absolute return equity managers, Sir Ronald Cohen looks for `third bounce` as investment cycles change, says FoHFs sector set for shake-up
- Institutions: Railways scheme makes alternatives push
- Cayman Islands sets milestone with 10,000 registered funds, current annual growth rate of new hedge funds at 12%
- People: Chimay Capital Management hires Goldman alumni Jason Colodne, Jason Beckman to launch credit strategy, Egerton adds to staff despite 21% drop in revenue, Citadel adds two from Bear Stearns, Axa Investment Managers strengthens hedge funds sales team, UBS suspends head of U.S. fixed income following fraud allegations
- UK job laws a legal maze for US hedge funds looking to expand into London
- Credit Crunch Update: McCain says Wall Street `villain` in subprime crisis, S&P report discusses how tight credit, economic turbulence are shaping global credit markets, Lehman hardest hit by biggest rise in borrowing cost since 2000, Legg Mason loss worse than forecast, investors withdraw $18.4bln from funds, WAMU increases liquidity position (video), Two more US regional banks fail, Nomura alternative unit bullish on Fannie, Freddie debt, National Australia Bank CEO Stewart says housing slump losses may triple to $1.3tln, Australia`s ANZ bank issues profit warning
- On Shorting Selling: Short-sellers in banks move to options market, >Comment: What is it about short-selling that brings out the worst in regulators?, How fund managers cope with short-selling tightening
- Regulatory: SEC`s Cox says could see OTC market plan by fall, SEC focuses on Lehman rumours, also examining HF`s and brokerage firms` internal compliance systems, UBS, Credit Suisse take issue with regulators` suggestion to maintain 5% capital-to-assets ratio used by U.S. commercial banks
- Legal: U.S. lawyers busy as hedge funds check compliance or set up new funds, CSO Partners` John Pickett files complaint against Citigroup, accuses executives of causing fund`s demise, Law firm doubts value of `good governance`
- Europe: Survey: Rate of European hedge fund launches slowed in H1, lowest number since 2002, AUM up $10.8bln, Moody`s warns on credit quality of Western European corporate borrowers, Update: Dexia leads the way with Eur20bln alternatives move
- Asia: Asia unlikely to follow U.S. short-selling crackdown, Outlook: Aberdeen says markets undergoing necessary purging, Asian antitrust laws `threaten deals`
- SRI investing struggle to define itslef, ESG (`environmental, social and governance`) takes top slot in labels poll
- Commodities: Hedge funds take stock after oil volatility: BlueGold HF up 167% to July but recently hard hit by oil decline, Traders reduce net long positions in commodities, SemGroup`s $3.2bln collapse shocks backers, SemGroup collapse leaves oil-distribution system exposed, S&P: High commodity prices are a boon for most of the US oil and gas industry, Gold to continue its bull run? (video)
- Prime brokers: Hedge funds try to cut prime broker ties - Celent report, Morgan Stanley takes aim at rivals` brokers
- Exchanges: Credit Suisse and Instinet Europe enter dark pool agreement
- Accounting: `Fair Value` for Paulson, Coxon and Cox
- Book review: The credit crisis and how to survive it: El-Erian`s `When Makets Collide`
- Sovereign funds code may not be ready by October - IMF
- Activist News: Inmarsat to get buyout offer from SkyTerra, Harbinger, Appaloosa asks judge to dismiss Delphi`s bankruptcy lawsuit, CSX invites two hedge fund nominees to join board, contests two more
- News Briefs: After delay, KKR finds a way to go public, CQS registers as investment adviser, Chrysler financial arm to stop leasing vehicles, T. Rowe Price reports unchanged income, slightly rising assets, HSBC`s purchase of Korea Exchange Bank boosted by financial regulator
- ...And finally: Angry man shoots lawn mower dead for not starting
- Logon: http://www.opalesque.com/index.php?act=archive
- Alternative energy investing: Opalesque Exclusive: Pickens Plan shortfalls and the gains to be made for hedge funds investing in the value chain
- Fund launches: Marshall Wace hires Morgan`s head of Asian Proprietary trading to set up financials fund, Blossom I.M. launches long-biased sustainable hedge fund, Unigestion to launch two FoFs: a hybrid FoFs and a fund of Australasian HFs, Roxbury Capital launches market-neutral hedge fund, SHK Financial, in collaboration with Dubai-based Algebra Capital, rolls out long-only absolute return fund Mena fund, Armajaro to add sugar fund to commodity fund offering, Mitsubishi Asset Brains plans to start a fund of hedge funds in next 2 to 3 years
- Performance: Hedge funds Harbinger, Clarium struggle (down up to 12% in July) as popular bets fail, Scoggin Capital Management suffers in H1, but sees markets turning, Investors divided over value of short-biased equities funds, up 11.62% in H1 2008 but volatile
- Assets: Toscafund attracts $800m of new money
- Bank of China buys 30% of Swiss hedge fund manager Heritage, Channel Islands investment manager Dawnay Day Milroy rebrands as Corazon Capital Management after MBO, India`s JM Financial sells 12% fund unit stake to three hedge funds
- Strategies: Fund manager Einhorn awaits further price falls for distressed debt
- Manager profile: Rewarding Voyages: James Harmon now addresses frontier markets, Caravel Fund has annualised 29.55% since inception
- Comment: On blocked redemptions: How many FoHFs have a liquidity mismatch?
- Views: Julius Baer`s head of investment products says future belongs to absolute return equity managers, Sir Ronald Cohen looks for `third bounce` as investment cycles change, says FoHFs sector set for shake-up
- Institutions: Railways scheme makes alternatives push
- Cayman Islands sets milestone with 10,000 registered funds, current annual growth rate of new hedge funds at 12%
- People: Chimay Capital Management hires Goldman alumni Jason Colodne, Jason Beckman to launch credit strategy, Egerton adds to staff despite 21% drop in revenue, Citadel adds two from Bear Stearns, Axa Investment Managers strengthens hedge funds sales team, UBS suspends head of U.S. fixed income following fraud allegations
- UK job laws a legal maze for US hedge funds looking to expand into London
- Credit Crunch Update: McCain says Wall Street `villain` in subprime crisis, S&P report discusses how tight credit, economic turbulence are shaping global credit markets, Lehman hardest hit by biggest rise in borrowing cost since 2000, Legg Mason loss worse than forecast, investors withdraw $18.4bln from funds, WAMU increases liquidity position (video), Two more US regional banks fail, Nomura alternative unit bullish on Fannie, Freddie debt, National Australia Bank CEO Stewart says housing slump losses may triple to $1.3tln, Australia`s ANZ bank issues profit warning
- On Shorting Selling: Short-sellers in banks move to options market, >Comment: What is it about short-selling that brings out the worst in regulators?, How fund managers cope with short-selling tightening
- Regulatory: SEC`s Cox says could see OTC market plan by fall, SEC focuses on Lehman rumours, also examining HF`s and brokerage firms` internal compliance systems, UBS, Credit Suisse take issue with regulators` suggestion to maintain 5% capital-to-assets ratio used by U.S. commercial banks
- Legal: U.S. lawyers busy as hedge funds check compliance or set up new funds, CSO Partners` John Pickett files complaint against Citigroup, accuses executives of causing fund`s demise, Law firm doubts value of `good governance`
- Europe: Survey: Rate of European hedge fund launches slowed in H1, lowest number since 2002, AUM up $10.8bln, Moody`s warns on credit quality of Western European corporate borrowers, Update: Dexia leads the way with Eur20bln alternatives move
- Asia: Asia unlikely to follow U.S. short-selling crackdown, Outlook: Aberdeen says markets undergoing necessary purging, Asian antitrust laws `threaten deals`
- SRI investing struggle to define itslef, ESG (`environmental, social and governance`) takes top slot in labels poll
- Commodities: Hedge funds take stock after oil volatility: BlueGold HF up 167% to July but recently hard hit by oil decline, Traders reduce net long positions in commodities, SemGroup`s $3.2bln collapse shocks backers, SemGroup collapse leaves oil-distribution system exposed, S&P: High commodity prices are a boon for most of the US oil and gas industry, Gold to continue its bull run? (video)
- Prime brokers: Hedge funds try to cut prime broker ties - Celent report, Morgan Stanley takes aim at rivals` brokers
- Exchanges: Credit Suisse and Instinet Europe enter dark pool agreement
- Accounting: `Fair Value` for Paulson, Coxon and Cox
- Book review: The credit crisis and how to survive it: El-Erian`s `When Makets Collide`
- Sovereign funds code may not be ready by October - IMF
- Activist News: Inmarsat to get buyout offer from SkyTerra, Harbinger, Appaloosa asks judge to dismiss Delphi`s bankruptcy lawsuit, CSX invites two hedge fund nominees to join board, contests two more
- News Briefs: After delay, KKR finds a way to go public, CQS registers as investment adviser, Chrysler financial arm to stop leasing vehicles, T. Rowe Price reports unchanged income, slightly rising assets, HSBC`s purchase of Korea Exchange Bank boosted by financial regulator
- ...And finally: Angry man shoots lawn mower dead for not starting
- 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….
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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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