Main News

 

 

Russo-Georgian War May Spread
U.S. Sends Planes, Ships; Ukraine Restricts Navy
BY BENNY AVNI - Staff Reporter of the Sun
UNITED NATIONS — Russia's war with Georgia is widening, drawing in Ukraine, the Baltic states, Poland, and even America. President Bush yesterday, flanked by his defense secretary, Robert Gates, announced he would send American aircraft and naval…

 

GETTING TECHNICAL
Dollar Rally Hits Headwinds The greenback's had a hot summer, but the long-term view remains cool.
http://online.barrons.com/article/SB121863917059836967.html?mod=djemBF

 

Hedge Fund Turnberry to Liquidate, Give Money Back
By: Reuters
Posted: 08/14/2008 4:10:04 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15194.html

 

New Credit Suisse/Tremont Hedge Fund Index Research Paper Explores Hedge Fund Performance During Market Downturns
Business Wire via Yahoo! Finance Thu, 14 Aug 2008 6:45 AM PDT
NEW YORK----Credit Suisse Index Co. today released a new research piece, Seeking Returns in Turbulent Markets: The Case for Hedge Funds During Market Downturns, which posits that hedge funds in general have customarily exhibited trends of correlation in bull market runs and some de-correlation at market downturns.

 

The New Face of Data Quality
By: Jill Eicher, Adaptive Alpha LLC
Posted: 08/14/2008 4:48:46 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=edsk&story=edsk301.html

 

Five U.S. Industries Where Credit Quality Is Withstanding The Downturn<http://now.eloqua.com/e/er.aspx?s=795&lid=6480&elq=AC6E4F3751E543D39BFCEBB72590C770>
Given the gloomy economic picture in the U.S, it is natural to assume that corporate credit is deteriorating across the board, but that is not necessarily the case. The well-known sector woes of airlines, autos, and financial institutions have resulted in weaker business profiles and negative ratings actions, but we are also seeing industries in five sectors--oil & gas, defense, pharmaceuticals, technology, and consumer nondurable goods--proving more resistant to this year's bad economic news.

 

64 U.S. Closed-End Second-Lien RMBS, One HELOC RMBS Rating Lowered To 'D'; 57 Deals Affected<http://now.eloqua.com/e/er.aspx?s=795&lid=6477&elq=AC6E4F3751E543D39BFCEBB72590C770>

 

31 Ratings On Four CDO Transactions Lowered To 'D' After Liquidations<http://now.eloqua.com/e/er.aspx?s=795&lid=6478&elq=AC6E4F3751E543D39BFCEBB72590C770

 

Tax Liability Is Optional for Corporations

Posted: 13 Aug 2008 10:51 AM CDT

 

Goldman Sachs-backed hedge fund doubles revenue<http://www.hedgefund-index.com/newstoday.asp>
Source: eFinancialNews.com

 

States Double Down on Hedge Funds as Returns Slide (Update1) <http://www.hedgefund-index.com/newstoday.asp>
Source: Bloomberg

Hedge Funds Counter Equities Slump<http://www.hedgefund-index.com/newstoday.asp>
Source: Markets Media Online

 

UN pension fund sees $1.5bn first half loss
http://www.ipe.com/news/UN_pension_fund_sees_1_5bn_first_half_loss_28899.php

 

Survival in the Age of Risk
There is danger all around, judging by companies’ heightened focus on managing risk. In the midst of the maelstrom: the CFO.

 

Wed, 25 Jun 2008, 17:22

Hedgeweek

Markit, a provider of independent data, portfolio valuations and over-the-counter derivatives trade processing, has announced it is working with leading institutions to facilitate the distribution of European asset-backed securities prospectuses and investor reports in a freely available manner.

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Yield Curve Corner

 

White House: US economy fundamentally sound
Forbes - NY,USA
Perino noted that energy price had since eased and said: "(US Federal Reserve) Chairman (Ben) Bernanke has spoken about his concern about inflation lately. ...

 

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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/TRCiselle227_G10.jpg

 

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Iranian Situation and Other Man Made Disasters

 

Iran open to dialogue on nuclear stand-off
AFP via Yahoo! News Thu, 14 Aug 2008 11:39 AM PDT
Iran is open to dialogue to resolve the standoff on its controversial nuclear programme, but will not give up its right to possess atomic energy, Iranian President Mahmoud Ahmadinejad said Thursday.

 

Iran a friend of Israelis? Unforgivable, Parliament says.
International Herald Tribune Wed, 13 Aug 2008 7:26 PM PDT
There are some things, Iran's parliament has decided, that a public official should simply not be allowed to say.

 

Geopolitical Diary: From Tbilisi to Tehran, History Resumes
August 14, 2008 0204 GMT
Russia created a new reality with the conflict in Georgia, and the United States is willing to let the politics of that new reality unfold.
http://www.stratfor.com/geopolitical_diary/tbilisi_tehran_history_resumes

 

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Opalesque’s Corner

 

- Opalesque Exclusive:  L/S firm EWTrading launches offering of exit strategy trading program, a quantitative overlay applicable to any instruments invested through any trade strategy
- Fund launches: BlueBay plans raising $1bln for second distressed fund, Ex-Morgan execs forming L/S credit fund for January launch
- Performance: Atticus Capital reports 17.9% decrease in revenues while administration costs double, London HF Capula doubled revenue last year, distributed GBP29m among 7 members, Conquest down 6.3% in July, blames Washington, SRI fund Moon light stung by volatility
- L/S equity hedge funds successfully react to global downturn, according to Hennessee Group
- Opalesque Exclusive: Michael Romanek, the man hedge funds looking to outsource financing go to
- Niche investing: Guitar fund seeks lead investor, Coins investment fund swings to FY pretax profit
- Strategies: Recent hedge fund losses could lead to style drift, Hedge funds reposition themselves in futures markets, Investors `still choosing timber`
- Other voices: The liquidity argument and the growing appeal of listed hedge funds
- Credit Crunch Update: Legg`s Bill Miller bets on Freddie Mac, discloses 12% stake, Lehman in negotiations with BlackRock about $14bln asset sale, RBS fails to offload Australian and NZ assets, HBOS to axe 425 jobs, Altman-NYU Salomon Center Defaulted Debt Index lost 14.31% in July, Credit jitters, surging oil hurt stocks
- Merrill survey sees world economic downturn, Credit crisis halfway over `at best,` Alt-A next - S&P, The greatest short bets of all time
- Regulatory: SEC`s ban on short-selling Fannie, Freddie ends, SEC short selling rule made little impact, US banks near ARS settlement, UK FSA fining Credit Suisse a sign of things to come, says Laven Partners
- Legal: The end of the 42-foot yacht: Former Brickell financier, hedge fund fraudster gets 57 months, UBS examined Birkenfeld`s complaints about cross-border practices two years ago, Comment: Belated Tone Grant dittmers (Refco update)
- Institutions: Greenwich Associates study shows many institutions are unaware of policies/practices of dark pool providers, Eur5.9bln German church employee pension fund pushes for alternatives, Tokio Marine makes gradual shift to hedge funds as prices drop, Florida pension scheme posts 4.4% loss for year
- People: Update: Ex-EFX PM Marc Bender joins start-up, Prudential appoints hedge fund veteran Harvey McGrath as chairman
- Europe: UK manager ARCH Financial Products launches fund with Nice Capital to capture residential property market opportunities, Baring Europe Select manager sees long-term value in European small cap sector, Bleak Bank forecast sends British pound lower
- Asia: Lone Pine, Traxis among 56 funds that registered to invest in India in 2008, Malaysia to award more Islamic fund house licences
- Commodities: Dow Jones Indexes announces 2009 weights of Dow Jones AIG Commodity Index, SemGroup rushed to raise $718m pre-bankruptcy, Demand weakness hurts gold, Commodity shipping lines reel as Baltic Index tumbles
- Author Q&A: `The first billion is the hardest,` T. Boone Pickens on becoming a billionaire
- Study: Global market for exchange traded derivatives remains stronger than perceived
- Activist News: Cerberus hits home run with Talecris exit
- News Briefs: KKR, Apollo seek debt investments as PE deals wane, Bramdiva to recast itself as service for HNW women with more than GBP2m to invest, BNP Paribas says close to buying Russian brokerage in emerging markets expansion, Hedge-fund managers are not welcome at the Waverly (NY)
- ...And finally: Bizarre criminals and their feats
- 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….

 

lackadaisical lack-uh-DAY-zih-kuhl, adjective:

Lacking spirit or liveliness; showing lack of interest; languid; listless.

 

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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.