Main News

 

Funds of hedge funds losing their luster
InvestmentNews - New York,NY,USA
By Jeff Benjamin Funds of hedge funds, after enjoying steady growth since the beginning of the decade, are now seen by some in the industry as victims of ...

 

Wood hedge fund plummets 85%
SRM Global Master Fund, the two-year-old hedge fund established by former UBS trader Jonathan Wood, has lost 85% of its value from its inception through July, sources said.  (The Wall Street Journal)
http://mail2.efnmail.co.uk/r/389703/MTk4MTI1OjE4MzI4/

 

Ospraie hedge fund loses $1bn on misplaced commodities bets
Ospraie Management, the US hedge fund led by Dwight Anderson, has seen about $1bn (?678m) in value being wiped out of Ospraie Fund, its biggest, over the last 12 months amid misplaced bets on commodities.  (The Wall Street Journal)
http://mail2.efnmail.co.uk/r/389704/MTk4MTI1OjE4MzI4/

 

Expensive ETFs Come With Liquidation Risk
http://www.smartmoney.com/t.cfm?pId=7&mID=692&mDt=08/18/2008&ui=1157312&ctu=%2Fticked%2Doff%2Findex%2Ecfm%3Fstory%3D20080730%2Doverpriced%2Detfs

 

U.S. Ratings Distribution: A Swing Back Toward Investment Grade<http://now.eloqua.com/e/er.aspx?s=795&lid=6545&elq=F4FD37B122F64F7EAB53FACB0443F833>

 

Global Bond Markets' Weakest Links And Monthly Default Rates<http://now.eloqua.com/e/er.aspx?s=795&lid=6549&elq=F4FD37B122F64F7EAB53FACB0443F833>

 

Wall Street's Credit Problems Mean Big Tax Trouble Is Coming by Barry Ritholtz

 

Einhorn Wants Natixis to Nix Rights Offer Plans
By: Reuters
Posted: 08/18/2008 3:07:27 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15201.html

 

Turning Japanese
In a sign of how the fortunes of U.S. and Japanese banks have reversed, Japan's biggest bank, Mitsubishi UFJ Financial Group, has clinched a deal to gain full control of UnionBanCal of California for $3.5 billion. Read More

 

Pakistan: Musharraf Resigns
August 18, 2008 0954 GMT
Pakistani President Pervez Musharraf has resigned, but his successor will face many of the same challenges.
http://www.stratfor.com/analysis/pakistan_musharraf_resigns

 

U.S., Pakistan: U.S. Will Keep Working With Pakistan -- Rice
August 18, 2008 1449 GMT
U.S. Secretary of State Condoleezza Rice on Aug. 18 said the United States will continue working...
http://www.stratfor.com/sitrep/u_s_pakistan_u_s_will_keep_working_pakistan_rice

 

The Elephant in the Tank
EXCLUSIVE: Intel's former C.E.O. Andy Grove says high-profile plans by Boone Pickens and Al Gore don't tackle the single most dangerous energy issue facing America. Read More

 

STAMFORD, Conn. (HedgeWorld.com)—A recent survey of 64 institutions describing themselves as "active users" of dark pools of liquidity reveals that the institutions themselves may actually be in the dark with respect to how dark their dark pools really are....

 

Carlyle Tries To Weather Rare Setbacks
Failed Finds Tarnish Equity Giant's Image
(By Thomas Heath, The Washington Post)

 

Staff

The mortgage crisis that sparked a wave of foreclosures is now responsible for a rising tide of bankruptcies across the city, according to a Crain's New York Business report. City filings rose 31 percent to 14,407 during the first seven...full story

 

Friday , 15 Aug 2008
The continuing decline in the platinum price, despite strong market fundamentals for the metal, make other opportunistic tilts at the stronger platinum mining and development targets more and more likely.

 

Thursday , 14 Aug 2008
Uranium One’s Dominion mine is now set to produce 89% less, in 2008, than originally projected.

 

 

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Yield Curve Corner

 

Lehman Brothers Cannot Get Off the Roller Coaster
New York Magazine - NY, USA
Federal Reserve chief Ben Bernanke thinks it's okay to let some financial firms fail. He's just having a hard time deciding which ones he should let go ...
See all stories on this topic

 

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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/TRCfay231_G12.jpg

 

 

Bird flu hopes from 1918 victims *
Scientists say victims of the 1918 flu virus that killed 50m still have protection, which may help in new bird flu treatments.
Full story:
http://news.bbc.co.uk/go/em/-/1/hi/health/7567219.stm

 

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Iranian Situation and Other Man Made Disasters

 

Iran's Ebadi lodges complaint over Bahai claim
AFP via Yahoo! News Mon, 18 Aug 2008 3:38 AM PDT
Nobel peace laureate Shirin Ebadi said on Monday she has lodged a complaint against Iran's official news agency IRNA over an article claiming that her daughter had converted to the banned Bahai faith.

 

Israel plays down concerns over Iran's satellite
AFP via Yahoo! News Mon, 18 Aug 2008 0:19 AM PDT
The head of Israel's space agency on Monday played down concerns over Iran's announcement it sent a rocket into space, saying the real threat came from Tehran's nuclear programme.

 

Iran proposes guarantees to attract German firms
AFP via Yahoo! News Mon, 18 Aug 2008 2:57 AM PDT
Iran is ready to offer investment guarantees to German companies, an official said Monday, as authorities in Berlin try to curb their plans to work in the controversial Middle Eastern country.

 

Turkey, Iran: Ankara's Priorities Shift
August 15, 2008 2146 GMT
Iran wants to strengthen its ties with Turkey, but Turkey has other issues -- like Russia's actions in the Caucasus -- on its mind.
http://www.stratfor.com/analysis/turkey_iran_ankaras_priorities_shift

 

Grand Canyon rescue as dam bursts *
Dozens are airlifted to safety from the Grand Canyon after days of heavy rain cause a dam to burst.
Full story:
http://news.bbc.co.uk/go/em/-/1/hi/world/americas/7567205.stm

 

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Opalesque’s Corner

 

- Opalesque Exclusive - What happened last week: 11 - 15 August, 2008
- Opalesque Exclusive - As wealth in the MENA region grows, what areas are of interest to those institutions and HNWIs choosing for diversification outside of the region?
- Fund launches - Trump launches $1b Indian hedge fund, Dalton launched distressed mortgage strategy
- Opalesque Exclusive - Integral Capital Diversified offers capital guaranteed managed futures structured product, will launch offshore fund soon
- Performance - Opalesque Exclusive: All Pharos` funds down for July and YTD, along with MSCI Russia Index,  Opalesque Exclusive: Atyant Capital India Fund-I recovering with +8.53% in July, down 40.31% YTD, Avenue Capital posted largest losses in 6 years in June, FrontPoint`s fixed-income arbitrage hedge fund drops 16% through June, Mulvaney`s Global Markets Fund down 18.78% in July, 22.47% YTD
- Closure - Long/short Japanese equity fund shuts down
- Indices - Credit Suisse/Tremont Hedge Fund Index down 2.61% in July, Canadian Hedge Watch: HF Composite Index and sub-indices returns for July all negative, Gardner Energy MacroIndexR up 1.96% in June, Palomar Structured Credit Hedge Fund Index returned -0.93% in June
- Assets - HFN Q2 2008 report: HF asset flows signal investor sentiment shifts, total assets up 4.41%, Market-listed funds continue to attract attention of investors, have raised GBP1.5bln in London this year, Europe`s top managers see their assets balloon, Brevan Howard tops hedge fund table by size, Japan`s zombie hedge funds abandoned by investors
- JP Morgan`s private clients increases allocations to alternative investments
- Hedge fund advisor D5 hires mathematician, boosts assets, D5 on lookout for marketer, looking to expand strategy
- Crederian Fund Services launches fund administration practice for alternatives in Philadelphia
- Whatever happened to the myth of `decoupling`?
- Morgan Stanley updates lending systems to hedge funds
- Credit Crunch Update - Crispin Odey: Banks could fall 30%, but expect rallies, Soros raises Lehman stake, Analysts see further loss for Lehman, US `likely to recapitalize` Fannie, Freddie, CBA eyes HBOS`s Australian unit BankWest, US banks scramble to refinance debt, Sudden wave of US bond deals lift credit risk premiums just as European economies worsen
- Comment - For UBS and other banks, breaking up is hard to do
- CEOs launch web site to protect short sellers, firm aids compliance with SEC naked-sale rules
- ARS Update - Merrill facing NY lawsuit over securities sale, Wachovia to buy back $8.8bln in ARS
- Legal - Wextrust Update: Judge denies bond for alleged fraudster
- People -  Triple A to sign London marketing director, Ex-Morgan Stanley Director Joins Cedar Hill, Threadneedle head of equities quits to join Gartmore
- Europe -  Deutsche Bank ETF platform raises Eur15bln, Greenwich Survey: European distributors not concerned with banks` credit record
- Asia -  Opalesque Exclusive: The China Mantou Fund reaches 5-year track record, Merrill analyst: Investors look at India to play falling oil trade but convictions, especially from HFs, remain low, India: What economic reform?, Citi Private Bank pushes more alternatives, Citi reorganises Asian operations
- What investors should know on the dollar`s comeback
- Commodities -  Touradji triples Petrohawk stake, adds EXCO, sells Sandridge, Trend reversals take big toll on Mulvaney`s July performance, Ospraie hedge fund loses $1bln on misplaced commodities bets, Soros` hedge fund bought Petrobras stake worth $811m, US senators say government report on oil prices is flawed, Commodity correction a blip, uptrend intact, Food and consumer groups hire traders to buy and hedge commodities
- Environmental - Christofferson Robb hedge fund to sell UK`s Thanet wind farm, CCFE's first regulated exchange to offer regional greenhouse gas initiative futures and options contracts
- Exchanges -  Turquoise begins limited operations, Some dark pools not dark enough: Greenwich
- Managers eye SWFs` massive fortunes
- Activist News - Harbinger, Pershing Square seek buyers for companies they have invested in, Pershing Square taps Blackstone to drive up purchase price for Longs Corp, Ackman bets on Sears Holdings, Target
- News Briefs -  MFA spent $600.000 lobbying on taxes, regulatory issues in Q2, SYW sees profits in insurance companies, HSBC, Santander face strategic, not financial, crux, ASC levies penalties against Coadum Capital directors, promoters
- ...And finally: (No-Nonsense story today:) 50 life skills to ensure kids stay in school, off drugs and out of trouble
- Logon: http://www.opalesque.com/index.php?act=archive

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Misc. Items of Interest

 

Net Worth: $1.3 million
CNN Political Ticker - USA
The Obamas have about 40 percent of their money in cash - about right for now, says Jason Mirsky of RiskMetrics: "They may need that much cash to tide the ...
See all stories on this topic

 

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Funnies, Facts, Quotes, etc….

 

 

knell NEL, verb:

1. The stoke of a bell tolled at a funeral or at the death of a person; a death signal; a passing bell; hence, figuratively, a warning of, or a sound indicating, the passing away of anything.
2. To sound as a knell; especially, to toll at a death or funeral; hence, to sound as a warning or evil omen.

 

 

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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.