Archive: 08/12/2008
Main News
Georgia, Russia: Checkmate?
August 11, 2008 1534 GMT
Russia has launched a new offensive that could very well destroy Georgia as a state -- even without taking the capital.
http://www.stratfor.com/analysis/georgia_russia_checkmate
Geopolitical Diary: Lessons Learned from Georgia
August 11, 2008 0151 GMT
By getting involved in the conflict in Georgia's breakaway region of South Ossetia, Russia has shown the world that it can operate effectively in its periphery.
http://www.stratfor.com/geopolitical_diary/geopolitical_diary_lessons_learned_georgia
Georgia: A Timeline of Events Aug. 11
August 10, 2008 2318 GMT
A timeline of the events in Georgia on Aug. 11 during Georgia's incursion into South Ossetia.
http://www.stratfor.com/analysis/georgia_timeline_events_aug_11
Russia: The Military Message of South Ossetia
August 10, 2008 2049 GMT
Russia has demonstrated effective war-fighting capability abroad for the first time since the collapse of the Soviet Union.
http://www.stratfor.com/analysis/russia_military_message_south_ossetia
August 11, 2008 1534 GMT
Russia has launched a new offensive that could very well destroy Georgia as a state -- even without taking the capital.
http://www.stratfor.com/analysis/georgia_russia_checkmate
Geopolitical Diary: Lessons Learned from Georgia
August 11, 2008 0151 GMT
By getting involved in the conflict in Georgia's breakaway region of South Ossetia, Russia has shown the world that it can operate effectively in its periphery.
http://www.stratfor.com/geopolitical_diary/geopolitical_diary_lessons_learned_georgia
Georgia: A Timeline of Events Aug. 11
August 10, 2008 2318 GMT
A timeline of the events in Georgia on Aug. 11 during Georgia's incursion into South Ossetia.
http://www.stratfor.com/analysis/georgia_timeline_events_aug_11
Russia: The Military Message of South Ossetia
August 10, 2008 2049 GMT
Russia has demonstrated effective war-fighting capability abroad for the first time since the collapse of the Soviet Union.
http://www.stratfor.com/analysis/russia_military_message_south_ossetia
Georgia: Conflict Poses Many Questions for Washington
August 11, 2008 0901 GMT
For the first time since the fall of the Soviet Union, the Russians have taken a decisive military action and imposed a military reality. But how did Georgia allow it to happen? What were Tbilisi's American advisers telling Georgia's leadership? Colin Chapman says there are many questions for Washington to answer. Meanwhile, concerns grow over the flow of oil through a pipeline crossing Georgia.
http://www.stratfor.com/podcast/russia_georgia_battle_poses_many_questions_washington
August 11, 2008 0901 GMT
For the first time since the fall of the Soviet Union, the Russians have taken a decisive military action and imposed a military reality. But how did Georgia allow it to happen? What were Tbilisi's American advisers telling Georgia's leadership? Colin Chapman says there are many questions for Washington to answer. Meanwhile, concerns grow over the flow of oil through a pipeline crossing Georgia.
http://www.stratfor.com/podcast/russia_georgia_battle_poses_many_questions_washington
A Seal of Approval for Hedge Funds<http://www.hedgefund-index.com/newstoday.asp>
Source: Seeking Alpha
In a recent interview, Mr. Stanley Goldstein announced the creation of an industry watchdog group, led by the New York Hedge Fund Roundtable. Its goal is to self-enforce otherwise voluntary and "weak" hedge fund practices. More...<http://www.hedgefund-index.com/newstoday.asp>
Source: Seeking Alpha
In a recent interview, Mr. Stanley Goldstein announced the creation of an industry watchdog group, led by the New York Hedge Fund Roundtable. Its goal is to self-enforce otherwise voluntary and "weak" hedge fund practices. More...<http://www.hedgefund-index.com/newstoday.asp>
Hedge Funds: Bigger Is Not Always Better<http://www.hedgefund-index.com/newstoday.asp>
Source: Seeking Alpha
Data from HedgeFund.net shows that emerging hedge fund managers, defined as those with a track record of less than three years and fewer than $300 million in assets under management, are doing better than their more established colleagues by generating returns that are 3% to 4% higher per year. More...<http://www.hedgefund-index.com/newstoday.asp>
Source: Seeking Alpha
Data from HedgeFund.net shows that emerging hedge fund managers, defined as those with a track record of less than three years and fewer than $300 million in assets under management, are doing better than their more established colleagues by generating returns that are 3% to 4% higher per year. More...<http://www.hedgefund-index.com/newstoday.asp>
Commodity Indexes Tumbled in July
By: Michael S. Fischer, Senior Financial Correspondent
Posted: 08/11/2008 2:39:44 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1377.html
By: Michael S. Fischer, Senior Financial Correspondent
Posted: 08/11/2008 2:39:44 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1377.html
Gold and the Gold Stocks
Gold Seek - USA
Since then Bernanke has cut over 3% from that number, putting the dollar at an enormous disadvantage. Bernanke has stopped easing, but he has not started ...
Gold Seek - USA
Since then Bernanke has cut over 3% from that number, putting the dollar at an enormous disadvantage. Bernanke has stopped easing, but he has not started ...
Put-option bet on Bear Stearns' demise raises questions
Despite astronomical odds, someone wagered $1.7 million March 11 that Bear Stearns shares would suffer an unprecedented decline within days. The put-option play came on the same day that the Federal Reserve issued a $200 billion lending program that for the first time monetized Wall Street's devalued collateral. There is speculation that the buyer, or buyers, intended to drive Bear Stearns out of business and reap a $270 million profit along the way. Bloomberg (11 Aug.)
Despite astronomical odds, someone wagered $1.7 million March 11 that Bear Stearns shares would suffer an unprecedented decline within days. The put-option play came on the same day that the Federal Reserve issued a $200 billion lending program that for the first time monetized Wall Street's devalued collateral. There is speculation that the buyer, or buyers, intended to drive Bear Stearns out of business and reap a $270 million profit along the way. Bloomberg (11 Aug.)
Carry trade appears to be unwinding
Currency traders suggest that the carry trade in its current form might be ending. The rise of the U.S. dollar and fall of commodity prices are combining to change currency markets. The question is whether those changes will be sustained, especially the drop in commodity prices. Financial Times (10 Aug.)
Currency traders suggest that the carry trade in its current form might be ending. The rise of the U.S. dollar and fall of commodity prices are combining to change currency markets. The question is whether those changes will be sustained, especially the drop in commodity prices. Financial Times (10 Aug.)
Rogers Hires Two People for Fund of Hedge Funds, Expects Growth
Bloomberg - Monday August 11, 08:37 BST
Bloomberg - Monday August 11, 08:37 BST
Sun, 10 Aug 2008, 15:53
MarketWatch
arly estimates show the HFN Hedge Fund Aggregate Average, an equal weighted benchmark of all single manager hedge funds and CTA/managed futures products in the HedgeFund.net database, was -1.90% in July and -2.27% YTD. The HedgeFund.net database consists of over 8,300 current hedge fund, fund of funds, and CTA products.
Quantum physicist launches volatility-focused hedge fund
David Ko, a quantum physicist formerly of Long-Term Capital Management, has launched Kurtosis Capital Partners in London, a hedge fund focused on making money from volatile markets. (The Wall Street Journal)
http://mail2.efnmail.co.uk/r/387870/MTk4MTI1OjE4MjUz/
David Ko, a quantum physicist formerly of Long-Term Capital Management, has launched Kurtosis Capital Partners in London, a hedge fund focused on making money from volatile markets. (The Wall Street Journal)
http://mail2.efnmail.co.uk/r/387870/MTk4MTI1OjE4MjUz/
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Yield Curve Corner
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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/TRChernan224_G11.jpg
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Iranian Situation and Other Man Made Disasters
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Opalesque’s Corner
- Editor's Note
- Opalesque Exclusive: What happened last week: 4 - 8 August, 2008
- Opalesque Exclusive: Hedge fund indices for July average -2.17% (estimated): Will jittery investors evaluate hedge fund investments month by month, or by the larger credit cycle?, Hedge fund outlook `much worse` than 1998
- Indices: All Eurekahedge Indices negative (est.) for July, HFRX indices down in July, Merger Arbitrage Index best performer (+0.44%), Macro Index worst performer (-5.59%), HFN Hedge Fund Aggregate Average at -1.90% in July, -2.27% YTD, Bigger hedge funds not always better
- Ex-LTCM David Ko and colleague Stephen Cain create fund to profit from volatility
- Fund launches: Financial heavyweights set up Outpost Investment Group, plan to launch global macro fund in Q3, Ex-Reservoir Capital trader Aaron Seager launches market-neutral equity hedge fund, Matrix launches pan-Asian L/S equity hedge fund, GoldenTree preps distressed fund, Stanley Shopkorn, ex-Moore equities chief, to start hedge fund
- Performance: Salida Capital`s multi strategy fund down -28% in July, -21.06% YTD, Blackfish Exodus Fund drops -9.38% in July, -8.65% YTD, Coffey leaves GLG in October with mixed performance, Coffey turned over fund 2.8 times a day
- Closures: Conquest Capital shuts down agriculture fund after sole investor withdraws assets
- Hedge fund Finvest denies claims it is blowing up - Rumor
- FoHFs slash fees to attract institutional investors, profits fall, Platform PCE veers away from hedge fund roots, sees smarter PE
- Ronald Cohen considers more hedge fund buys
- Tailwind Financial and Asset Alliance Corporation announce termination of merger agreement, Comment: Asset Alliance IPO nixed (again)
- FoHF Pomegranate Capital founder Susan Solovay on the benefits of investing with female fund managers exclusively
- People: Ron Insana leaves Insana Capital and CNBC to join SAC Capital as M.D., Comment: Insana upgrades, Ed Rogers makes two new hires for the Wolver Hill Japan Fund (up 4.68% YTD), Merrill may hire JPMorgan`s Nierenberg for mortgages
- Views: Financial markets to remain volatile in August, according to London-based FoHFs firm Blacksquare Capital, >Market participants concerned with inflation but deflation is the greater worry, says GAM
- Credit Crunch Update: Fannie Mae looses $2.3bln in Q2 as defaults rise, UBS in discussions to buy back auction rate securities worth $19.0bln, Clients exit UBS wealth management, Private equity takes on $8bn in RBS loans, MBIA`s second quarter earnings beat estimates, Bank losses hall of shame, How to handle the inflation monster
- Regulatory: US `naked` short-selling rule to expire, Fed presses Wall Street banks on liquidity
- Legal: MBIA may sue short-seller Ackman`s Pershing Square, 12 Wall Street firms face auction-rate probes, Massachusetts official plans serious ARS charges against Merrill, Credit Suisse sued by STMicroelectronics over `auction` debt
- Institutions: Institutional investors fear FrontPoint staff exits due to Morgan Stanley acquisition clause, NY retirement fund makes hedge fund, PE commitments, Skandia UK`s profits up 14%, to look into new alternative investments
- Family Offices: MaxCap Partners is newest multi-family office in UK, this latest breed of adviser poses a threat to traditional banks, Former UBS wealth adviser joins German multi family office
- Europe: U.K. investment manager assets up 10% in 2007, UK asset manager Bramdean reduces losses, unveils alternatives strategy
- Inflation may be good for Japan (video)
- Lionhart aims to attract $2bln from Gulf through new Dubai branch
- Australasia: Opalesque Exclusive: Pengana takes over Rubicon Asia Special Events, Investors in Basis entitled to fund returns, Babcock says profit to drop 40% as investments slump
- Commodities: Fuel for thought: there is still cause for worry despite lower commodity prices, Energy, commodity prices down, stocks up . but don`t bet on it, Energy-financials bets get trickier, Brazil stocks fall on metals
- SWFs: Middle East SWFs buys up European stocks, Germany set to approve new law to block SWFs from taking more than 25% in certain firms
- Activist News: Jana Partners raises Convergys stake to 10.4%, NZ` Telecom objects to HF Elliott`s board proposals
- News Briefs: Trader lands $300m to stay put at Fortress, SocGen shuts down U.S. merger-arbitrage trading group, Top bosses feel chill of credit crunch, Dubai exchange to unveil stake sale, Asian investors close in on Apax stake sale, Credit Suisse to double staff in India
- ...And finally: Spanish candy shop owner finds Homer Simpson Euro, `impressive work` (Photo)
- Logon: http://www.opalesque.com/index.php?act=archive
- Opalesque Exclusive: What happened last week: 4 - 8 August, 2008
- Opalesque Exclusive: Hedge fund indices for July average -2.17% (estimated): Will jittery investors evaluate hedge fund investments month by month, or by the larger credit cycle?, Hedge fund outlook `much worse` than 1998
- Indices: All Eurekahedge Indices negative (est.) for July, HFRX indices down in July, Merger Arbitrage Index best performer (+0.44%), Macro Index worst performer (-5.59%), HFN Hedge Fund Aggregate Average at -1.90% in July, -2.27% YTD, Bigger hedge funds not always better
- Ex-LTCM David Ko and colleague Stephen Cain create fund to profit from volatility
- Fund launches: Financial heavyweights set up Outpost Investment Group, plan to launch global macro fund in Q3, Ex-Reservoir Capital trader Aaron Seager launches market-neutral equity hedge fund, Matrix launches pan-Asian L/S equity hedge fund, GoldenTree preps distressed fund, Stanley Shopkorn, ex-Moore equities chief, to start hedge fund
- Performance: Salida Capital`s multi strategy fund down -28% in July, -21.06% YTD, Blackfish Exodus Fund drops -9.38% in July, -8.65% YTD, Coffey leaves GLG in October with mixed performance, Coffey turned over fund 2.8 times a day
- Closures: Conquest Capital shuts down agriculture fund after sole investor withdraws assets
- Hedge fund Finvest denies claims it is blowing up - Rumor
- FoHFs slash fees to attract institutional investors, profits fall, Platform PCE veers away from hedge fund roots, sees smarter PE
- Ronald Cohen considers more hedge fund buys
- Tailwind Financial and Asset Alliance Corporation announce termination of merger agreement, Comment: Asset Alliance IPO nixed (again)
- FoHF Pomegranate Capital founder Susan Solovay on the benefits of investing with female fund managers exclusively
- People: Ron Insana leaves Insana Capital and CNBC to join SAC Capital as M.D., Comment: Insana upgrades, Ed Rogers makes two new hires for the Wolver Hill Japan Fund (up 4.68% YTD), Merrill may hire JPMorgan`s Nierenberg for mortgages
- Views: Financial markets to remain volatile in August, according to London-based FoHFs firm Blacksquare Capital, >Market participants concerned with inflation but deflation is the greater worry, says GAM
- Credit Crunch Update: Fannie Mae looses $2.3bln in Q2 as defaults rise, UBS in discussions to buy back auction rate securities worth $19.0bln, Clients exit UBS wealth management, Private equity takes on $8bn in RBS loans, MBIA`s second quarter earnings beat estimates, Bank losses hall of shame, How to handle the inflation monster
- Regulatory: US `naked` short-selling rule to expire, Fed presses Wall Street banks on liquidity
- Legal: MBIA may sue short-seller Ackman`s Pershing Square, 12 Wall Street firms face auction-rate probes, Massachusetts official plans serious ARS charges against Merrill, Credit Suisse sued by STMicroelectronics over `auction` debt
- Institutions: Institutional investors fear FrontPoint staff exits due to Morgan Stanley acquisition clause, NY retirement fund makes hedge fund, PE commitments, Skandia UK`s profits up 14%, to look into new alternative investments
- Family Offices: MaxCap Partners is newest multi-family office in UK, this latest breed of adviser poses a threat to traditional banks, Former UBS wealth adviser joins German multi family office
- Europe: U.K. investment manager assets up 10% in 2007, UK asset manager Bramdean reduces losses, unveils alternatives strategy
- Inflation may be good for Japan (video)
- Lionhart aims to attract $2bln from Gulf through new Dubai branch
- Australasia: Opalesque Exclusive: Pengana takes over Rubicon Asia Special Events, Investors in Basis entitled to fund returns, Babcock says profit to drop 40% as investments slump
- Commodities: Fuel for thought: there is still cause for worry despite lower commodity prices, Energy, commodity prices down, stocks up . but don`t bet on it, Energy-financials bets get trickier, Brazil stocks fall on metals
- SWFs: Middle East SWFs buys up European stocks, Germany set to approve new law to block SWFs from taking more than 25% in certain firms
- Activist News: Jana Partners raises Convergys stake to 10.4%, NZ` Telecom objects to HF Elliott`s board proposals
- News Briefs: Trader lands $300m to stay put at Fortress, SocGen shuts down U.S. merger-arbitrage trading group, Top bosses feel chill of credit crunch, Dubai exchange to unveil stake sale, Asian investors close in on Apax stake sale, Credit Suisse to double staff in India
- ...And finally: Spanish candy shop owner finds Homer Simpson Euro, `impressive work` (Photo)
- Logon: http://www.opalesque.com/index.php?act=archive
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Misc. Items of Interest
Golf Course Communities' Double Bogey
It wasn't long ago that real estate developers could build a golf course community and collect a $30,000 premium from customers who might not have even played golf, but aspired to the country club lifestyle.
(By Anita Huslin, The Washington Post)
It wasn't long ago that real estate developers could build a golf course community and collect a $30,000 premium from customers who might not have even played golf, but aspired to the country club lifestyle.
(By Anita Huslin, The Washington Post)
Paralysis of War Grips the U.N.
Envoys Spar as Kremlin Readies Veto
BY BENNY AVNI - Staff Reporter of the Sun
As President Saakashvili of Georgia appeals to America and the "world community" to intervene to stop the war in his country, the Security Council is mired in a Cold War-like paralysis that will likely lead in the next few days to a Russian veto on a proposed cease-fire resolution, diplomats say.
Envoys Spar as Kremlin Readies Veto
BY BENNY AVNI - Staff Reporter of the Sun
As President Saakashvili of Georgia appeals to America and the "world community" to intervene to stop the war in his country, the Security Council is mired in a Cold War-like paralysis that will likely lead in the next few days to a Russian veto on a proposed cease-fire resolution, diplomats say.
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Funnies, Facts, Quotes, etc….
provenance PROV-uh-nuhn(t)s, noun:
Origin; source.
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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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