Archive: 08/04/2008
Main
News
By
TERI BUHL
New
York's Top 100 hedge-fund titans are getting flattened in the credit crunch.
The high-flying traders - who were touted around the globe for their killer
2007 returns and $100 million paychecks - can't get out of the red in the
first...full
story
HEDGEWORLD
MAGAZINE CLOSES SHOP
New York Post Sat, 02 Aug 2008 0:56 AM PDT
Newly formed media and financial services company Thomson Reuters pulled the
plug on one of the nation's most popular hedge-fund publications, HedgeWorld.
The publishing and financial-data powerhouse on Thursday morning told News
Director Kristin...
S&P
emails slammed mortgage debt products: report
Reuters - USA
... according to the report released early last month on an industry blamed for
helping contribute to the subprime mortgage crisis. ...
Duff:
Starting a Fund Tough in 08 Thinking of going into the hedge fund business?
Better think again, according to Philip Duff. [more]
Choose
Wisely in Fragmenting Hedge Fund Industry
By: Reuters
Posted: 08/01/2008 12:39:20 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=peop&story=peop3560.html
Investors
Reduce Equities For Relief
July saw investors cutting equity holdings to their lowest in at least four
years, while increasing bonds weightings to a two-year peak.
Banks, dealers join N.Y. Fed to cut risks in derivatives
The Federal
Reserve Bank of New York is leading efforts to reduce trading and
settlement risks in over-the-counter credit-derivative markets. Dealers
delivered a progress report to the New York Fed that includes a commitment to
expand automated trade matching and electronic processing in other OTC markets.
Additionally, dealers and large banks should soon have a central clearinghouse
for the market. Financial Times (31 Jul.)
A
Small Business Loan from a Hedge Fund?
BusinessWeek - USA
But as banks tighten their purse strings, hedge funds are offering asset-based
loans to small companies by Ricky McRoskey In early 2008, Jim Gee hit an ...
Basso
hedge fund to staff: be excellent or be gone
Reuters - USA
By Dane Hamilton NEW YORK, Aug 1 (Reuters) - Basso Capital, the $2.8 billion
hedge fund founded by convertible arbitrage trader Howard Fischer, ...
Why
Obama Needs the RichRelying on the "rich."
http://online.barrons.com/article/SB121763203870306095.html?mod=djemWR
Soros
Successors Thiel, Howard Prove Global Bears Rule Markets
Tom
Cruise, Paramount And Hollywood Power’s Shift, And Now Hedge Funds
Prudent Press Agency (press release) - Den Haag,Netherlands
She says that Cruise is raising $200 million from hedge funds to fund Cruise’s
future projects. Wait until these Wall Street hedge fund types learn about ...
CARLYLE'S
SECOND BLACK EYE
New York Post - New York,NY,USA
"This is the second black eye," said Ferenc Sanderson, a hedge fund
analyst, referring to the implosion earlier this year of Carlyle Capital, ...
Highland
fund to repay redemptions in installments
Reuters via Yahoo! News Fri, 01 Aug 2008 6:28 PM PDT
Highland Crusader Fund, a $2.3 billion hedge fund that invests in distressed
assets and facing an increase in redemption requests, told investors seeking
redemptions in a letter on Friday it will repay them in stages in the coming
months.
Jack
Nash, Pioneer in Hedge Funds, Dies at 79
New York Times Fri, 01 Aug 2008 7:40 PM PDT
Mr. Nash was a former chairman of Oppenheimer & Company who helped pioneer
the modern hedge fund business.
_________________________________________________________________________
Yield
Curve Corner
Fed
to leave rates unchanged amid economic uncertainty
AFP -
WASHINGTON (AFP) — A powerful US central bank panel, led by Federal Reserve
chairman Ben Bernanke, is widely expected to keep its key interest rate ...
Obama
says Bernanke, Paulson eye housing worries
Reuters - USA
Obama met with Bernanke at the Federal Reserve and had a separate telephone
conversation with Paulson during two days of meetings in Washington earlier
this ...
Finance
Has Become the Business of America
Barron's - USA
"Technological advances have dramatically transformed the provision of
financial services in our economy," Fed Chairman Ben Bernanke told
Congress in May, ...
_________________________________________________________________________
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/UNIasia214_MT.jpg
Comments
on recent Volcanic Eruption. For a few days we have been monitoring the
Soufrière Hills Volcano in Montserrat (Leeward Islands). This volcano has
recently seen an increase in activity, with pyroclastic flows tumbling down
into the sea. Volcanic Ash clouds have been released into the upper Troposphere
(40,000 feet - 12km), not into the Stratosphere as some news agencies have
erroneously reported.
_________________________________________________________________________
Iranian
Situation and Other Man Made Disasters
CORRECTION:
U.N. council must increase sanctions on Iran: U.S.
Reuters via Yahoo! News Sun, 03 Aug 2008 11:52 AM PDT
The United States said on Sunday that Iran has left the U.N. Security Council
no choice but to increase sanctions on the Islamic Republic for ignoring
demands that it halt sensitive nuclear activities.
Iran
says diplomacy 'key' to nuke dispute
CNN.com Sun, 03 Aug 2008 8:44 AM PDT
TEHRAN, Iran (AP) -- Iranian President Mahmoud Ahmadinejad said Sunday that
diplomacy is the only way out of his country's standoff with the West over its
disputed nuclear program and insisted he was serious about negotiations.
Iran:
Not Giving Up Nuclear Rights
Time Magazine Sun, 03 Aug 2008 6:09 AM PDT
Iran will not give up "a single iota of its nuclear rights," the
country's president said Saturday, rebuffing an informal deadline to stop
expanding uranium enrichment or face more sanctions
Syria's
Assad in Iran for security talks with Ahmadinejad
AFP via Yahoo! News Sat, 02 Aug 2008 10:46 AM PDT
Syrian President Bashar al-Assad arrived in Tehran on Saturday for talks with
staunch regional ally Iran that an official said would include the Islamic
republic's controversial nuclear ambitions.
Germany
Wants Iran Nuke Answer
Time Magazine Sat, 02 Aug 2008 6:53 AM PDT
Germany's foreign minister urged Iran to stop playing for time and deliver a
"clear answer" to initiatives offered by six world powers in the
standoff over Tehran's nuclear ambitions
Iran
accuses U.S. of double-standards on atom issue
Reuters via Yahoo! News Sat, 02 Aug 2008 1:09 AM PDT
Iran has accused the United States of double standards following a nuclear deal
with India, state television said on Saturday, just before a deadline set by
the West in a dispute over Tehran's own atomic ambitions.
Iran
heading to nuclear breakthrough: Mofaz
Reuters via Yahoo! News Fri, 01 Aug 2008 11:20 AM PDT
Iran is heading toward a major breakthrough in its nuclear program, an Israeli
official said on Friday, as the White House warned Iran could face new
sanctions if it ignores an international freeze offer.
_________________________________________________________________________
Opalesque’s
Corner
-
Opalesque Exclusive: SYW`s combination L/S macro fund launches offshore
as fund tops Barron`s June performance listing with portfolio returns +18.4%
June, 93.4% YTD and 203.5% year over year
- Fund launches: Corazon Capital prepares leveraged absolute return fund, Pride
Investment to raise $50m for pre-IPO China fund, Turner Funds launches Turner
Core Growth 130/30 Fund
- Closures: PE firm Carlyle liquidates only hedge fund Blue Wave
- Performance: Opalesque Exclusive: QBridge China Fund continues uptrend in Q2
(6.64% YTD), Sprott posts net income of C$11.4m ($11.1m), sticks to resource
stocks, Soros successors Thiel (up 47% YTD), Howard prove global bears rule
markets, Meadowbrook`s beta neutral strategy minimizes market risk - interview,
Lipper: Hedge funds` performance paused in June
- Assets: AlphaNorth Asset Management to target Europe investors, HBOS` fund
management arm Insight sees inflows of GBP8.7bln ($17.2bln) in H1 driven by LDI
growth
- ETF growth driven by hedge funds who use them as stock substitutes
- M&A: Wayne Hummer A.M. in talks to acquire hedge fund, real estate
managers
- People: Citadel hires at least six people from Merrill for Asia funds, James
Wood-Collins appointed as Client Team Director at Record Plc, Ex-Bear Stearns
CEO Alan Schwartz to leave JPMorgan in August, Citigroup adds hedge fund middle
office capabilities
- How hedge funds` SemGroup bet may yet pay
- Toscafund takes passive stakes in Washington Mutual, Sovereign Bancorp,
Toscafund becomes second-biggest investor in WaMu, WaMu jumps as hedge fund
discloses stake
- Credit Crunch Update: US banks borrow record amount from Fed, Greenspan on
the economy, part 1 (Video), Wall Street legend Joe Grano on financials
(Video), HBOS mulls disposals or wind-downs, Mizuho recovers, Sumitomo suffers
losses, A credit crunch diary, Comment: Is market `fix` tomorrow`s crisis?
- Other Voices: Moral hazard argument can be hazardous to your health - more
investors question governments will never let their largest banks fail
- Regulatory: Derivatives dealers agree to more commitments in OTC markets, MFA
joins major derivatives dealers in commitment to regulators across financial
products, Hope on Housing Bill (video), Comment: Human greed impervious to FSA
purge on insider trading (Video), TD Waterhouse pays $2m fine to regulator for
sale of HFs to unqualified clients
- Comment: Washington tried to protect investors, but research says Regulation
Fair Disclosure (Reg FD) failed
- Tax Update: Senators Grassley, Wyden eye tax on hedge fund oil speculators,
Private placement life insurance: Getting your hedge fund tax-free
- Legal: Ex-US Treasury official at the centre of UBS probe, not charged
- BIS Joint Forum paper on Credit Risk Transfer: Heavy temporary shortcomings
and weaknesses, but structured credit market likely to survive
- Europe: New data on European hedge fund launches may be worse (or better)
than first meets the eye, OECD warns on need to improve investment climate in
Russia, Greece scraps anti-laundering unit following obstacles and political
opposition
- Asia: HFR: Investors reduced allocations in Asia focused hedge funds in Q2,
inflows down 50%
- Commodities: Contracts in metals, food show difficulty in placing shackles on
market bets
- Environmental: Green fund sales rise 600% in May compared to April, SEC fines
`socially responsible` fund for breach of mission
- Activist News: Hedge fund nominees get most votes to CSX board, Calm descends
as Yahoo proxy storm ends, Comment: Why Carl Icahn is bad for investors
- News Briefs: Investing pioneer Jack Nash, mentor of John Paulson, dies at age
79, BlackRock declares quarterly dividend of 78 cents on common stock,
Newcastle Partners and RREEF Alternative Investments to start building
commercial space on 54 acres, Naissance Capital begins women leadership study
- ...And finally: World`s oldest joke traced back to 1900 BC
- Logon: http://www.opalesque.com/index.php?act=archive
_________________________________________________________________________
Misc.
Items of Interest
Instant-Messagers
Really Are About Six Degrees from Kevin Bacon
Big Microsoft Study Supports Small World Theory
(By Peter Whoriskey, The Washington Post)
_____________________________________________________________________
Funnies,
Facts, Quotes, etc….
brummagem
BRUHM-uh-juhm, adjective:
Cheap
and showy, tawdry; also, spurious, counterfeit.
_________________________________________________________________________
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:
_________________________________________________________________________
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)
_________________________________________________________________________
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
_________________________________________________________________________
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.
|
Manage
your subscription 
