Archive: 09/05/2008
Main News
Hedge funds caught out as Hurricane Gustav fails to lift oil price<http://www.hedgefund-index.com/newstoday.asp>
Source: Times Online
Several hedge funds face big financial losses after wrongly predicting that oil and gas prices would rise as a result of Hurricane Gustav slamming into the Gulf coast of the US earlier this week. More...<http://www.hedgefund-index.com/newstoday.asp>
Source: Times Online
Several hedge funds face big financial losses after wrongly predicting that oil and gas prices would rise as a result of Hurricane Gustav slamming into the Gulf coast of the US earlier this week. More...<http://www.hedgefund-index.com/newstoday.asp>
Oil’s Well That Ends Well<http://app.en25.com/e/er.aspx?s=795&lid=7056&elq=485ACF6D1B134BA8BBBF8B4ED9110F5A> <http://app.en25.com/e/er.aspx?s=795&lid=5774&elq=485ACF6D1B134BA8BBBF8B4ED9110F5A> 9/3/08
Beth Ann Bovino, Senior Economist, Standard & Poor's
Beth Ann Bovino, Senior Economist, Standard & Poor's
Thursday , 04 Sep 2008
Market value losses among 825 globally listed resources stocks are at USD 1.7 trillion, but is this the extreme?
Market value losses among 825 globally listed resources stocks are at USD 1.7 trillion, but is this the extreme?
Energy Hedge Funds Return Negative 5.78% in July: Gardner
By: Ingrid Smith, Thomson IM News
Posted: 09/04/2008 11:35:05 AM ET
http://www.hedgeworld.com/news/read_news.cgi?section=indx&story=indx1302.html
By: Ingrid Smith, Thomson IM News
Posted: 09/04/2008 11:35:05 AM ET
http://www.hedgeworld.com/news/read_news.cgi?section=indx&story=indx1302.html
Rumor Mongering Of The Day: Commodities Stock Liquidation
Dealbreaker.com - Thursday September 04, 07:25 BST
Dealbreaker.com - Thursday September 04, 07:25 BST
Funds of Hedge Funds Recover in Q2: S&P
By: Ingrid Smith, Thomson IM News
Posted: 09/04/2008 11:23:23 AM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15239.html
By: Ingrid Smith, Thomson IM News
Posted: 09/04/2008 11:23:23 AM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15239.html
Sep 4, 2008 ... There's a Bull Market Somewhere? Investment Outlook, September 2008. By Bill Gross. Posted: September 4, 2008, 10:20 AM EST. Post a Comment ...
www.pionline.com/apps/pbcs.dll/article?AID=/20080904/FREE/809049997 - 27 minutes ago -
www.pionline.com/apps/pbcs.dll/article?AID=/20080904/FREE/809049997 - 27 minutes ago -
Global Market Brief: The Financial Aftermath of the Russo-Georgian War. September 4, 2008 | 1849 GMT. Global Market Brief - Stock ...
FURTHER RUSSIAN MILITARY ACTION IS POSSIBLE. By Pavel Felgenhauer. Thursday, September 4, 2008. President Dmitry Medvedev recently outlined an assertive ...
What's Behind The Negative Rating Actions On 10 U.S. Regional Banks<http://now.eloqua.com/e/er.aspx?s=795&lid=7058&elq=666C16323A754FC1ABA595BAC41E6408>
CQS launches $160 mln volatility hedge fund<http://www.hedgefund-index.com/newstoday.asp>
Source: Reuters
UK hedge fund manager CQS said on Thursday it had launched a new fund that will aim to profit from the volatility that has gripped global stock markets for much of the past year. More...<http://www.hedgefund-index.com/newstoday.asp>
Falling oil prices helped improve moods this week, as Hurricane Gustav was less devastating than people feared. Consumer sentiment came in better than expected, on lower gasoline prices, though job concerns will keep spirits down. Moreover, factory orders were surprisingly strong, to keep recession fears at bay. The narrowing of the real trade gap contributed 3.1% to second-quarter growth, more than 90% of the total. While we still expect this to be called a recession, recent news increased chances that we could avoid one.
Watch<http://app.en25.com/e/er.aspx?s=795&lid=7056&elq=666C16323A754FC1ABA595BAC41E6408>
Source: Reuters
UK hedge fund manager CQS said on Thursday it had launched a new fund that will aim to profit from the volatility that has gripped global stock markets for much of the past year. More...<http://www.hedgefund-index.com/newstoday.asp>
Falling oil prices helped improve moods this week, as Hurricane Gustav was less devastating than people feared. Consumer sentiment came in better than expected, on lower gasoline prices, though job concerns will keep spirits down. Moreover, factory orders were surprisingly strong, to keep recession fears at bay. The narrowing of the real trade gap contributed 3.1% to second-quarter growth, more than 90% of the total. While we still expect this to be called a recession, recent news increased chances that we could avoid one.
Watch<http://app.en25.com/e/er.aspx?s=795&lid=7056&elq=666C16323A754FC1ABA595BAC41E6408>
Hedge fund RAB's chief steps down<http://www.hedgefund-index.com/newstoday.asp>
Source: Reuters
Philip Richards, co-founder of hedge fund firm RAB Capital (RAB.L: Quote, Profile, Research, Stock Buzz), is to step down as chief executive to focus on fund management and will replaced by Finance Director Stephen Couttie, the company said on Thursday. More...<http://www.hedgefund-index.com/newstoday.asp>
Source: Reuters
Philip Richards, co-founder of hedge fund firm RAB Capital (RAB.L: Quote, Profile, Research, Stock Buzz), is to step down as chief executive to focus on fund management and will replaced by Finance Director Stephen Couttie, the company said on Thursday. More...<http://www.hedgefund-index.com/newstoday.asp>
That such a large, experienced fund manager as Ospraie was tripped up doesn't bode well for many others who have crowded into the commodities bull market.
Sofaer star Whyte is forced out by losses
Sep 03 2008 23:45
One of the best-performing London hedge fund managers of the past few years has abruptly left Sofaer Capital after losing almost half of last year's profit in a month Read more »
Sep 03 2008 23:45
One of the best-performing London hedge fund managers of the past few years has abruptly left Sofaer Capital after losing almost half of last year's profit in a month Read more »
Lehman's latest blow
Sep 03 2008 20:13
Lehman Brothers latest blow is the sudden demise of the Ospraie Fund Read more »
Sep 03 2008 20:13
Lehman Brothers latest blow is the sudden demise of the Ospraie Fund Read more »
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Yield Curve Corner
Fed's beige book underscores fragile state of economy
Chicago Tribune - United States
Many experts say Fed Chairman Ben Bernanke and his colleagues are likely to leave their key short-term interest rate target alone at 2 percent when they ...
Chicago Tribune - United States
Many experts say Fed Chairman Ben Bernanke and his colleagues are likely to leave their key short-term interest rate target alone at 2 percent when they ...
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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/TRCuseast248_G12.jpg
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Iranian Situation and Other Man Made Disasters
United States, Iran: Reaching an Agreement on the MeK. September 4, 2008 | 1726 GMT. Mujahideen-e-Khalq (MeK) members guarding base in Iraq ...
Financial services | THE GROWING OPPORTUNITY FOR INVESTMENT BANKS IN
EMERGING MARKETS
As gloom besets capital markets in the developed world, the outlook for
investment banking in emerging markets remains relatively bright.
http://e.mckinseyquarterly.com/W0RT01ADA979832CE4E1928A6F4AF0
EMERGING MARKETS
As gloom besets capital markets in the developed world, the outlook for
investment banking in emerging markets remains relatively bright.
http://e.mckinseyquarterly.com/W0RT01ADA979832CE4E1928A6F4AF0
United States: Going Quiet on Iran
September 4, 2008 1519 GMT
A rumor emerges of discreet diplomacy.
http://www.stratfor.com/analysis/united_states_going_quiet_iran
September 4, 2008 1519 GMT
A rumor emerges of discreet diplomacy.
http://www.stratfor.com/analysis/united_states_going_quiet_iran
Al Qaeda Prime and Bush's Eleventh Hour
September 4, 2008 1242 GMT
With the clock winding down for the Bush administration, Stratfor terrorism expert Fred Burton examines the current state of the tactical war against jihadists.
http://www.stratfor.com/podcast/al_qaeda_prime_and_bushs_eleventh_hour
September 4, 2008 1242 GMT
With the clock winding down for the Bush administration, Stratfor terrorism expert Fred Burton examines the current state of the tactical war against jihadists.
http://www.stratfor.com/podcast/al_qaeda_prime_and_bushs_eleventh_hour
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Opalesque’s Corner
- Opalesque Exclusive: Venus Capital launches Venus India Index Plus Fund
- Fund launches - Stephen Czech gearing up to raise $1bln for new fund after suing former employer Contrarian Capital for withholding bonus, CQS launches $160m Global Volatility Fund, Bronte Investment Management launches Pan-Asia L/S equity fund, BlackRock teams with Highfields Capital Management to raise $2bln and buy delinquent home mortgages, BlackRock teams with Highfields Capital Management to raise $2bln and buy delinquent home mortgages, Axa Investment Management joins forces with Kyobo Life to form asset management company in South Korea
- Opalesque Exclusive: Swing Capital`s 100% FX Hybrid Fund returns +3.2% for August, puts fund at +18.84% YTD
- Performance - Update: Charlemagne will not pay special dividend after emerging market specialist declines 11.6 in assets and 29% in operating profits, Och-Ziff hedge funds fall slightly in August, analyst cuts estimates as 2008 returns may be lackluster
- Indices - DMX was the top performing AI-Index in August 2008 with 0.84%. YTD 18.94%,Newedge monthly performance indices show short term traders up slightly in August (+0.37%) and CTAs fall -1.86%, Gardner Energy MacroIndex down -5.78% in a difficult month for energy hedge funds
- After Ospraie, more hedge fund closures due to commodities slump expected
- Conference Board research shows hedge fund assets grow by 23.6% as pensions put more into hedge funds
- Trends - Hedge funds increasingly outsource back office - Celent, Citco Fund Services survey finds hedge funds ripe for consolidation
- People - RAB Capital co-founder Philip Richards to step down as CEO, will focus on largest fund, Sofaer Capital manager Tim Whyte leaves after losing almost half last year`s profit (17%), Laurent Dupeyron joins Olympia Capital Management as a Managing Director, Head of Sales, Marketing and Product Development, Unigestion hires former Olympia co-chief Kontantinos Iordanidis, Lehman executive James Singh joins Gottex as deputy head of Asian business, Wachovia Securities LLC of St. Louis has named Tom McManus as its new chief investment officer, Peter Kerger to head DB Advisors in Asia-Pacific
- London association changes model asset allocation for FTSE indices to reflect shift towards hedge funds in private client portfolios
- Lehman - Korea military pension fund may back Korea Development Bank bid, Tokyo Mitsubishi joins queue of suitors for Lehman Brothers
- Credit Crunch - Merrill may fail to sell nonperforming loans to Korea Asset Management,Wachovia cuts estimates for Goldman, Lehman and Morgan Stanley, will be a `quarter to forget`, Barclays may face 7.5bln GBP capital shortfall, Fitch warns on option ARMs `high defaults await`, Fed remains downbeat on economy, only Boston and NYC see signs of stabilization
- Legal - Matthew Marino, brother of Bayou CFO pleads guilty to concealing fraud, Ex-Credit Suisse brokers accused in auction rate securities fraud scheme, NY subpoenas BofA execs over auction-rate debt, Northern Rock shareholder compensation trial hits court in January
- Regulatory - Brazilian Finance Minister says hedge funds, not SWFs contribute to current global turmoil and need further regulating
- Institutions - London borough considers hedge funds for pension funds assets, Pimco expands plans for ETF market, eyes active funds
- Opalesque Exclusive: Dexia Asset Management announces joint venture partnership with Deniz Porftolio Management with launch of two funds investing in the Turkish markets
- Europe - Consumer brands still rushing in to tap Russian consumer market, Georgia considered `short term` military incursion
- Middle East - Islamic Bond Decree cripples Sukuk, imperils Projects
- Opalesque Exclusive: Western Australia`s largest non-government superannuation fund reveals alternatives strategy
- Asia - TriAlpha gets regulatory approval to distribute FoHFs in Singapore, Update: Economic policy rift arises in Japan`s ruling party after Prime Minister abruptly resigns, Coca-Cola to buy juice maker Huiyuan in largest takeover by foreign company in China
- Emerging Markets - Emerging Markets at significant discount, bond markets suggest risk is lower than in March this year
- Environmental Investing - Demand for silicon photo-voltaic wafers grows along with the solar power industry
- Commodities - Hedge funds caught out as Hurricane Gustav fails to lift oil price, Commodities and emerging markets tightly linked, does one drive the other?, Study finds Fed policy to be commodity indicator, US to file WTO case against China challenging export restrictions on raw materials to make steel, Brazil may soon make WTO challenge on US taxes on fuel imports, obstacle to sugar based ethanol, In Gustav`s wake, Bush calls on Congress to expand drilling offshore
- Activist News - Natixis to sell stock at 61% discount to lift capital
- News Briefs - Larry Nusbaum`s hedge fund acquires brand `Popular` at foreclosure sale, Global wealth databank launched, Wall Street bonus system is breaking down, 2008 not to be a meritocracy, Channel Islands court ruling may allow wealthy to shield from big money divorce payouts, LVMH in JV Partnership to acquire luxury mega-yacht builder
- ...And finally: Event the birds: UK researchers find rival groups of birds live together in gangs and behave like football fans, shouting chants at each other and commiserating after a loss
- Logon: http://www.opalesque.com/index.php?act=archive
- Fund launches - Stephen Czech gearing up to raise $1bln for new fund after suing former employer Contrarian Capital for withholding bonus, CQS launches $160m Global Volatility Fund, Bronte Investment Management launches Pan-Asia L/S equity fund, BlackRock teams with Highfields Capital Management to raise $2bln and buy delinquent home mortgages, BlackRock teams with Highfields Capital Management to raise $2bln and buy delinquent home mortgages, Axa Investment Management joins forces with Kyobo Life to form asset management company in South Korea
- Opalesque Exclusive: Swing Capital`s 100% FX Hybrid Fund returns +3.2% for August, puts fund at +18.84% YTD
- Performance - Update: Charlemagne will not pay special dividend after emerging market specialist declines 11.6 in assets and 29% in operating profits, Och-Ziff hedge funds fall slightly in August, analyst cuts estimates as 2008 returns may be lackluster
- Indices - DMX was the top performing AI-Index in August 2008 with 0.84%. YTD 18.94%,Newedge monthly performance indices show short term traders up slightly in August (+0.37%) and CTAs fall -1.86%, Gardner Energy MacroIndex down -5.78% in a difficult month for energy hedge funds
- After Ospraie, more hedge fund closures due to commodities slump expected
- Conference Board research shows hedge fund assets grow by 23.6% as pensions put more into hedge funds
- Trends - Hedge funds increasingly outsource back office - Celent, Citco Fund Services survey finds hedge funds ripe for consolidation
- People - RAB Capital co-founder Philip Richards to step down as CEO, will focus on largest fund, Sofaer Capital manager Tim Whyte leaves after losing almost half last year`s profit (17%), Laurent Dupeyron joins Olympia Capital Management as a Managing Director, Head of Sales, Marketing and Product Development, Unigestion hires former Olympia co-chief Kontantinos Iordanidis, Lehman executive James Singh joins Gottex as deputy head of Asian business, Wachovia Securities LLC of St. Louis has named Tom McManus as its new chief investment officer, Peter Kerger to head DB Advisors in Asia-Pacific
- London association changes model asset allocation for FTSE indices to reflect shift towards hedge funds in private client portfolios
- Lehman - Korea military pension fund may back Korea Development Bank bid, Tokyo Mitsubishi joins queue of suitors for Lehman Brothers
- Credit Crunch - Merrill may fail to sell nonperforming loans to Korea Asset Management,Wachovia cuts estimates for Goldman, Lehman and Morgan Stanley, will be a `quarter to forget`, Barclays may face 7.5bln GBP capital shortfall, Fitch warns on option ARMs `high defaults await`, Fed remains downbeat on economy, only Boston and NYC see signs of stabilization
- Legal - Matthew Marino, brother of Bayou CFO pleads guilty to concealing fraud, Ex-Credit Suisse brokers accused in auction rate securities fraud scheme, NY subpoenas BofA execs over auction-rate debt, Northern Rock shareholder compensation trial hits court in January
- Regulatory - Brazilian Finance Minister says hedge funds, not SWFs contribute to current global turmoil and need further regulating
- Institutions - London borough considers hedge funds for pension funds assets, Pimco expands plans for ETF market, eyes active funds
- Opalesque Exclusive: Dexia Asset Management announces joint venture partnership with Deniz Porftolio Management with launch of two funds investing in the Turkish markets
- Europe - Consumer brands still rushing in to tap Russian consumer market, Georgia considered `short term` military incursion
- Middle East - Islamic Bond Decree cripples Sukuk, imperils Projects
- Opalesque Exclusive: Western Australia`s largest non-government superannuation fund reveals alternatives strategy
- Asia - TriAlpha gets regulatory approval to distribute FoHFs in Singapore, Update: Economic policy rift arises in Japan`s ruling party after Prime Minister abruptly resigns, Coca-Cola to buy juice maker Huiyuan in largest takeover by foreign company in China
- Emerging Markets - Emerging Markets at significant discount, bond markets suggest risk is lower than in March this year
- Environmental Investing - Demand for silicon photo-voltaic wafers grows along with the solar power industry
- Commodities - Hedge funds caught out as Hurricane Gustav fails to lift oil price, Commodities and emerging markets tightly linked, does one drive the other?, Study finds Fed policy to be commodity indicator, US to file WTO case against China challenging export restrictions on raw materials to make steel, Brazil may soon make WTO challenge on US taxes on fuel imports, obstacle to sugar based ethanol, In Gustav`s wake, Bush calls on Congress to expand drilling offshore
- Activist News - Natixis to sell stock at 61% discount to lift capital
- News Briefs - Larry Nusbaum`s hedge fund acquires brand `Popular` at foreclosure sale, Global wealth databank launched, Wall Street bonus system is breaking down, 2008 not to be a meritocracy, Channel Islands court ruling may allow wealthy to shield from big money divorce payouts, LVMH in JV Partnership to acquire luxury mega-yacht builder
- ...And finally: Event the birds: UK researchers find rival groups of birds live together in gangs and behave like football fans, shouting chants at each other and commiserating after a loss
- 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….
immolate IM-uh-layt, transitive verb:
1. To sacrifice; to offer in sacrifice; to kill as a sacrificial victim.
2. To kill or destroy, often by fire.
2. To kill or destroy, often by fire.
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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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