Archive: 08/14/2008
Main News
Georgia: Moscow and the Media War
August 13, 2008 1357 GMT
Russia is using embedded U.S. reporters to send a message to the United States: Get Georgia under control.
http://www.stratfor.com/analysis/georgia_moscow_and_media_war
August 13, 2008 1357 GMT
Russia is using embedded U.S. reporters to send a message to the United States: Get Georgia under control.
http://www.stratfor.com/analysis/georgia_moscow_and_media_war
Georgia: Will a Cease-Fire Hold?
August 13, 2008 1322 GMT
Georgian and Russian leaders agree to a cease-fire plan, after making it clear that the status of South Ossetia and Abkhazia are far from settled. But tensions on the ground remain high. Will the movement of Russian tanks scupper the deal?
http://www.stratfor.com/podcast/georgia_will_cease_fire_hold
August 13, 2008 1322 GMT
Georgian and Russian leaders agree to a cease-fire plan, after making it clear that the status of South Ossetia and Abkhazia are far from settled. But tensions on the ground remain high. Will the movement of Russian tanks scupper the deal?
http://www.stratfor.com/podcast/georgia_will_cease_fire_hold
Banks risk further clampdown
Aug 13 2008 00:07
Financial institutions have failed to live up to the spirit of new accounting rules designed to make them disclose more about risk management practices Read more »
Aug 13 2008 00:07
Financial institutions have failed to live up to the spirit of new accounting rules designed to make them disclose more about risk management practices Read more »
Analysts call assessing counterparty risk a "no-brainer"
Some analysts described a greater push to contain system risk as the obvious next step. "Changing rules in assessing your counterparty risk seems to be a no-brainer in the context of what we've seen happen," said Kurt Schacht, managing director of the CFA Institute Centre for Financial Market Integrity. "Counterparty risk and how you analyze, consider and reflect that -- both in your investment decisions and business decisions -- is part and parcel of what you do." InvestmentNews (11 Aug.)
Some analysts described a greater push to contain system risk as the obvious next step. "Changing rules in assessing your counterparty risk seems to be a no-brainer in the context of what we've seen happen," said Kurt Schacht, managing director of the CFA Institute Centre for Financial Market Integrity. "Counterparty risk and how you analyze, consider and reflect that -- both in your investment decisions and business decisions -- is part and parcel of what you do." InvestmentNews (11 Aug.)
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Posted: 12 Aug 2008 12:00 PM CDT | |
U.S. Economic Forecast: W's "W"<http://now.eloqua.com/e/er.aspx?s=795&lid=6438&elq=563420FE18094F2A844F46E975329597>
Credit Crisis Halfway Over 'At Best;' Alt-A next: S&P
By: Reuters
Posted: 08/13/2008 1:31:19 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15193.html
By: Reuters
Posted: 08/13/2008 1:31:19 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15193.html
As exports fall and consumers spend less, Japan is finding itself on the brink of its first recession in six years. Because of a drop in sales in the U.S., the growth in exports that helped hold Japan back from its last recession has halted. Telegraph (London) (13 Aug.)
Rotten Investments Hit Euro Financials
Forbes - NY,USA
... assets linked to the US mortgage market, and it also booked 44.0 million euros ($65.4 million) in write-downs from its exposure to subprime and Alt-A ...
Forbes - NY,USA
... assets linked to the US mortgage market, and it also booked 44.0 million euros ($65.4 million) in write-downs from its exposure to subprime and Alt-A ...
A look behind the hedge fund curtain
Hedge World Wed, 13 Aug 2008 9:32 AM PDT
OK, hands up all those who believe the inflation numbers churned out regularly by the eggheads at the relevant body in your home country.
Hedge World Wed, 13 Aug 2008 9:32 AM PDT
OK, hands up all those who believe the inflation numbers churned out regularly by the eggheads at the relevant body in your home country.
Pickens' hedge fund loses value<http://www.hedgefund-index.com/newstoday.asp>
Source: Reuters
The commodity half of oil tycoon T. Boone Pickens's BP Capital hedge fund lost 35 percent of its value in July, the New York Post said, citing sources. More...<http://www.hedgefund-index.com/newstoday.asp>
Source: Reuters
The commodity half of oil tycoon T. Boone Pickens's BP Capital hedge fund lost 35 percent of its value in July, the New York Post said, citing sources. More...<http://www.hedgefund-index.com/newstoday.asp>
Owner of bankrupt Linens `n Things stumbles before its IPO.
Tue, 12 Aug 2008, 21:16
Investment News
Morningstar Inc of Chicago is taking its research of the hedge fund industry to the next level with plans to categorize and rate the 3,500 funds of hedge funds in its database. The firm already categorizes by investment style and applies star ratings to the 5,000 individual hedge funds in its database. The new effort would apply the same analysis to funds of funds by the end of the year, according to Ryan Tagal, direct of hedge funds at Morningstar.
BlueCrest live with Algorithmics for hedge fund risk management
Finextra Wed, 13 Aug 2008 1:46 AM PDT
Algorithmics and BlueCrest Capital Management L.P. ("BlueCrest") are pleased to announce that, as of July 1, 2008, Algorithmics' Algo Risk Service is ...
Finextra Wed, 13 Aug 2008 1:46 AM PDT
Algorithmics and BlueCrest Capital Management L.P. ("BlueCrest") are pleased to announce that, as of July 1, 2008, Algorithmics' Algo Risk Service is ...
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Hedge Fund Reports False Rumors |
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Rumor mongerers should not mess with Sabre Fund Management. |
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The International Monetary Fund has published new procedures on how it will monitor member countries' economic policies, clarifying in particular how it will discuss with countries exchange rate issues and their impact on the global economy.
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Yield Curve Corner
Bernanke author defends the Fed chief
MSNBC - USA
The author of “Ben Bernanke’s Fed,” the first book released Tuesday on the Fed chief, says the Great Depression guru may actually be better equipped at ...
MSNBC - USA
The author of “Ben Bernanke’s Fed,” the first book released Tuesday on the Fed chief, says the Great Depression guru may actually be better equipped at ...
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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/DSTmiddleeast226_N7L.jpg
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Iranian Situation and Other Man Made Disasters
Treasury Expands Iran Sanctions
New York Times Tue, 12 Aug 2008 6:31 PM PDT
The United States Treasury prohibited Americans from doing business with five Iranian entities that it contended had provided support or materials to Iran?s nuclear and missile programs.
New York Times Tue, 12 Aug 2008 6:31 PM PDT
The United States Treasury prohibited Americans from doing business with five Iranian entities that it contended had provided support or materials to Iran?s nuclear and missile programs.
Iran likely to introduce new currency
Payvand Iran News Wed, 13 Aug 2008 8:48 AM PDT
In an exclusive Tuesday interview with Mehr News Agency, Central Bank of Iran (CBI) Governor Tahmasb Mazaheri said that Iran was reviewing whether to "lop 3 or 4 zeros off the Iranian Rial to introduce a new currency."
Payvand Iran News Wed, 13 Aug 2008 8:48 AM PDT
In an exclusive Tuesday interview with Mehr News Agency, Central Bank of Iran (CBI) Governor Tahmasb Mazaheri said that Iran was reviewing whether to "lop 3 or 4 zeros off the Iranian Rial to introduce a new currency."
Venezuela, Iran Cement Bolivia Deal
Bolivia has signed an agreement with Venezuela and Iran for the creation of a national cement company with an initial investment of $225 million.Read more
Bolivia has signed an agreement with Venezuela and Iran for the creation of a national cement company with an initial investment of $225 million.Read more
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Opalesque’s Corner
- Editor's Note
- Opalesque Exclusive: Opalesque Hedge Fund Workshop wraps up with closer look at alternative alternatives, options trading, commodities and infrastructure investing
- Launches: Opalesque Exclusive: Swiss advisor Secquaero launched new ILS fund with seeding from reinsurer, Fusion launches global macro hedge fund, Ex-Dillon Read manager launches Ladder Capital, Martin A.M. to launch new ETF product this month, Park Place postpones launch of SRI fund
- M&A: Auda International ramps up hedge fund unit, integrating George Chako`s Kite Partners and hiring Global Head of Investor Relations, Deutsche Bank reports global M&A activity on rise
- Indices: RBC Hedge 250 Index -2.37% in July, -4.20% YTD, Gardner expands the Gardner MacroIndex Family with natural resources hedge fund focused indices, Summertime blues for hedge funds - Morningstar 100 HF index down 3.07% in July
- Performance: Boone Pickens` hedge fund hit sets back OSU football`s facility construction, Paris-based Carmignac dips in July, U.K. Blackfish fund to use more sector specific hedges, down 9.38%
- Assets: Opalesque exclusive: Harcourt`s AUM stable at $5.5b in H1-2008, Thames River Capital has boosted assets selling hedge funds and fund of funds into Europe
- Investors put faith in macro strategists over company analysts, believe they have edge in identifying market changes
- Credit Crunch Update: Corporate bond defaults rise as economy slows, Moody`s expects global defaults to climb over 6%, Does danger lurk for bond insurers in corporate CDOs?, Cool reception greets UBS shake-up, MFPs Michael Price shorts Citigroup on belief of `more pain`, sees few banks to buy, Analyst Hintz predicts Lehman may get $7bln for Neuberger, Former Merrill CEO Tully says Thain was right to purge mortgage securities, Wall Street banks hit by downgrades, Wall Street banks hit by downgrades, Banks remain exposed to some loan risk even after sales of debt to PE firms
- Views: Worries about credit losses weigh on Wall Street, Stern on oil prices and inflation (video), Worst bear market in 90 years - Longview Economics (video)
- Regulatory: Credit Suisse reaches agreement with UK`s FSA, to pay GBP5.6m fine
- Legal: K Squared funds manager Chris Kane sued for fraud and breach of contract by ex-partner, Letter to Birkenfeld shows UBS chiefs knew of rule breaches, Irish pension funds lead sub-prime class action against Lehman Brothers
- People: Exclusive: Andrew F. Good to join AlphaMetrix as Director of Business Development, Former Bear Stearns MD Matt Chasin joins Sorin Capital Management as COO and Partner, Ex-WSJ reporter moves to hedge fund research at Plainfield A.M., Dresdner hires five for currency options, hedge-fund sales desk, SIFMA A.M. Group`s Steering Committee announces Weil and Binstock as new Chairs and Hemenetz as treasurer
- Rise in Russia RTS Stock Index and fall in oil prices reflects conflict is unlikely to deter Russia investors
- Middle East: Hedge Funds and Shari`ah compliance in the GCC, challenges in establishing an Islamic hedge fund, The Family Sharia Fund receives strong response to its IPO in London
- Asia: Samurai debt cuts U.S. costs, Yen rises to 12-week high against Euro as carry trades pared, India: Exchange-traded currency futures will bridge the missing link, Wall Street banks look to India for employees as belt tightening pushes re-examination of expensive office locations
- E.M.: Investors set out for new frontiers, Botswana and Vietnam report $3bln net equity inflows, McKinsey research: The growing opportunity for investment banks in emerging markets
- Analysis: Large cap stocks to come back into fashion - Michael Mauboussin`s paper `The Sociology of Markets`
- Environmental Trading: European Commission and UN to link emissions trading schemes, bringing global carbon market closer to existence, JPMorgan is building a potentially lucrative carbon-trading business around cook stoves sold in Uganda
- Commodities: US crop report raises corn estimates on `ideal` weather, should see lower corn, wheat, soybean prices, As cost of grain rises, farmers raise mini-cattle which produce proportionately more beef against what they consume, Murchison Metals shares drop amid global slide in mining stocks, In mystery cotton-price spike, traders hit by swirling forces, Analysis: US government may be culprit in oil price surge (not hedge funds) - VM Group
- Risk: Greenwich: Most institutions say CDSs risk represents serious threat to global financial markets, BlueCrest live with Algorithmics for hedge fund risk management
- Exchanges: Income tax issues could undermine CME-Nymex deal, US banks buy into Dubai Mercantile Exchange, Asia`s oldest stock exchange waging battle to hold market share against National Stock Exchange, BNY Mellon clearing affiliate Pershing is approved for portfolio margining, takes aim at high-net-worth clients
- SWFs: Lawmakers look to unregulated activity of SWFs for dramatic swing in oil prices, SWFs slug it out for Morgans hotels
- Activist Investing: UK`s Toscafund raises stake in Hong Kong-listed Geely Automobile to 17.92%, Cleveland-Cliffs `believed` Alpha Natural Resources deal had Harbinger backing, Ackerman stands to make $88m as CVS expands reach in western US
- News Briefs: Office-rental market feels Wall Street`s ripples, Apollo posts net loss of $96.4m ahead of going public, Hedge fund comic Shoval tries out his riff on hedge funds at NYC Broadway Comedy Club, Earnings highlight disparities at Thomson Reuters, Lazard takes on European private equity again with Apollo
- And Finally. Man finds 3ft snake in his car. in Scotland!
- Logon: http://www.opalesque.com/index.php?act=archive
- Opalesque Exclusive: Opalesque Hedge Fund Workshop wraps up with closer look at alternative alternatives, options trading, commodities and infrastructure investing
- Launches: Opalesque Exclusive: Swiss advisor Secquaero launched new ILS fund with seeding from reinsurer, Fusion launches global macro hedge fund, Ex-Dillon Read manager launches Ladder Capital, Martin A.M. to launch new ETF product this month, Park Place postpones launch of SRI fund
- M&A: Auda International ramps up hedge fund unit, integrating George Chako`s Kite Partners and hiring Global Head of Investor Relations, Deutsche Bank reports global M&A activity on rise
- Indices: RBC Hedge 250 Index -2.37% in July, -4.20% YTD, Gardner expands the Gardner MacroIndex Family with natural resources hedge fund focused indices, Summertime blues for hedge funds - Morningstar 100 HF index down 3.07% in July
- Performance: Boone Pickens` hedge fund hit sets back OSU football`s facility construction, Paris-based Carmignac dips in July, U.K. Blackfish fund to use more sector specific hedges, down 9.38%
- Assets: Opalesque exclusive: Harcourt`s AUM stable at $5.5b in H1-2008, Thames River Capital has boosted assets selling hedge funds and fund of funds into Europe
- Investors put faith in macro strategists over company analysts, believe they have edge in identifying market changes
- Credit Crunch Update: Corporate bond defaults rise as economy slows, Moody`s expects global defaults to climb over 6%, Does danger lurk for bond insurers in corporate CDOs?, Cool reception greets UBS shake-up, MFPs Michael Price shorts Citigroup on belief of `more pain`, sees few banks to buy, Analyst Hintz predicts Lehman may get $7bln for Neuberger, Former Merrill CEO Tully says Thain was right to purge mortgage securities, Wall Street banks hit by downgrades, Wall Street banks hit by downgrades, Banks remain exposed to some loan risk even after sales of debt to PE firms
- Views: Worries about credit losses weigh on Wall Street, Stern on oil prices and inflation (video), Worst bear market in 90 years - Longview Economics (video)
- Regulatory: Credit Suisse reaches agreement with UK`s FSA, to pay GBP5.6m fine
- Legal: K Squared funds manager Chris Kane sued for fraud and breach of contract by ex-partner, Letter to Birkenfeld shows UBS chiefs knew of rule breaches, Irish pension funds lead sub-prime class action against Lehman Brothers
- People: Exclusive: Andrew F. Good to join AlphaMetrix as Director of Business Development, Former Bear Stearns MD Matt Chasin joins Sorin Capital Management as COO and Partner, Ex-WSJ reporter moves to hedge fund research at Plainfield A.M., Dresdner hires five for currency options, hedge-fund sales desk, SIFMA A.M. Group`s Steering Committee announces Weil and Binstock as new Chairs and Hemenetz as treasurer
- Rise in Russia RTS Stock Index and fall in oil prices reflects conflict is unlikely to deter Russia investors
- Middle East: Hedge Funds and Shari`ah compliance in the GCC, challenges in establishing an Islamic hedge fund, The Family Sharia Fund receives strong response to its IPO in London
- Asia: Samurai debt cuts U.S. costs, Yen rises to 12-week high against Euro as carry trades pared, India: Exchange-traded currency futures will bridge the missing link, Wall Street banks look to India for employees as belt tightening pushes re-examination of expensive office locations
- E.M.: Investors set out for new frontiers, Botswana and Vietnam report $3bln net equity inflows, McKinsey research: The growing opportunity for investment banks in emerging markets
- Analysis: Large cap stocks to come back into fashion - Michael Mauboussin`s paper `The Sociology of Markets`
- Environmental Trading: European Commission and UN to link emissions trading schemes, bringing global carbon market closer to existence, JPMorgan is building a potentially lucrative carbon-trading business around cook stoves sold in Uganda
- Commodities: US crop report raises corn estimates on `ideal` weather, should see lower corn, wheat, soybean prices, As cost of grain rises, farmers raise mini-cattle which produce proportionately more beef against what they consume, Murchison Metals shares drop amid global slide in mining stocks, In mystery cotton-price spike, traders hit by swirling forces, Analysis: US government may be culprit in oil price surge (not hedge funds) - VM Group
- Risk: Greenwich: Most institutions say CDSs risk represents serious threat to global financial markets, BlueCrest live with Algorithmics for hedge fund risk management
- Exchanges: Income tax issues could undermine CME-Nymex deal, US banks buy into Dubai Mercantile Exchange, Asia`s oldest stock exchange waging battle to hold market share against National Stock Exchange, BNY Mellon clearing affiliate Pershing is approved for portfolio margining, takes aim at high-net-worth clients
- SWFs: Lawmakers look to unregulated activity of SWFs for dramatic swing in oil prices, SWFs slug it out for Morgans hotels
- Activist Investing: UK`s Toscafund raises stake in Hong Kong-listed Geely Automobile to 17.92%, Cleveland-Cliffs `believed` Alpha Natural Resources deal had Harbinger backing, Ackerman stands to make $88m as CVS expands reach in western US
- News Briefs: Office-rental market feels Wall Street`s ripples, Apollo posts net loss of $96.4m ahead of going public, Hedge fund comic Shoval tries out his riff on hedge funds at NYC Broadway Comedy Club, Earnings highlight disparities at Thomson Reuters, Lazard takes on European private equity again with Apollo
- And Finally. Man finds 3ft snake in his car. in Scotland!
- 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….
chichi SHEE-shee, adjective:
Affectedly trendy.
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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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