Archive: 09/17/2008
Main News
Fund to Redeem AIG Commodities Notes by Wednesday
By: Reuters
Posted: 09/16/2008 5:29:52 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1395.html
By: Reuters
Posted: 09/16/2008 5:29:52 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=mfad&story=mfad1395.html
Barclays to Buy Some Lehman Assets: Source
By: Reuters
Posted: 09/16/2008 5:18:18 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15264.html
By: Reuters
Posted: 09/16/2008 5:18:18 PM ET
http://www.hedgeworld.com/news/read_news.cgi?section=dail&story=dail15264.html
Einhorn's call on Lehman seen as right
Reuters - Tuesday September 16, 09:55 BST
Reuters - Tuesday September 16, 09:55 BST
Sep 16, 2008 ... Money-Market Rates Double Amid Global Credit Seizure (Update3). By Gavin Finch and Kim-Mai Cutler. Enlarge Image/Details ...
Geopolitical Diary: Measuring the Danger. September 16, 2008 | 0157 GMT. Geopolitical Diary Graphic — FINAL. A major U.S. company declared bankruptcy on ...
Bear Stearns, Lehman situations differ, as do responses
In March, the Federal Reserve and the U.S. Treasury helped Bear Stearns stave off bankruptcy and engineered a takeover by JPMorgan Chase. During the weekend, the government did not offer similar help to Lehman Brothers and its potential buyers, leading Lehman to file for bankruptcy. The government's response to the two seemingly similar situations was different partly because circumstances changed and also because a collapse of Bear Stearns would have threatened the financial system as a whole. CNNMoney.com (15 Sep.)
In March, the Federal Reserve and the U.S. Treasury helped Bear Stearns stave off bankruptcy and engineered a takeover by JPMorgan Chase. During the weekend, the government did not offer similar help to Lehman Brothers and its potential buyers, leading Lehman to file for bankruptcy. The government's response to the two seemingly similar situations was different partly because circumstances changed and also because a collapse of Bear Stearns would have threatened the financial system as a whole. CNNMoney.com (15 Sep.)
Shock to the System
After Lehman's collapse, there is still a long list of things that could go wrong. Horribly wrong. Read More
After Lehman's collapse, there is still a long list of things that could go wrong. Horribly wrong. Read More
What does the future hold for Morgan Stanley and Goldman Sachs? Read More
World's banks to back $70bn liquidity pool
Sep 15 2008 18:44
Leading lenders – including Bank of America, Barclays and Citigroup – to club together for fund to help counter short-term funding disruption Read more »
Sep 15 2008 18:44
Leading lenders – including Bank of America, Barclays and Citigroup – to club together for fund to help counter short-term funding disruption Read more »
Hedge funds may take their time in putting the growing pile of cash they're sitting on to work. Until then, hedge funds likely will continue to pick on each other, potentially forcing more funds to fold and adding to the market's angst.
http://online.wsj.com/article/SB122158384852343723.html?mod=djemheard
http://online.wsj.com/article/SB122158384852343723.html?mod=djemheard
In refusing to bail out Lehman Brothers Holdings, the U.S. government held its nerve.
Lehman's Bankruptcy Creates Systemic Risk
Seeking Alpha - New York,NY,USA
Hank Paulson at the US Treasury and Ben Bernanke at the US Federal Reserve wanted to avoid the moral hazard of supporting the acquisition of a failed ...
Seeking Alpha - New York,NY,USA
Hank Paulson at the US Treasury and Ben Bernanke at the US Federal Reserve wanted to avoid the moral hazard of supporting the acquisition of a failed ...
Hedge funds suffer further pain
Reuters - USA
By Laurence Fletcher and Bill McIntosh LONDON (Reuters) - The bankruptcy filing of Lehman Brothers is another blow for the hedge fund industry, ...
Reuters - USA
By Laurence Fletcher and Bill McIntosh LONDON (Reuters) - The bankruptcy filing of Lehman Brothers is another blow for the hedge fund industry, ...
Russia's RTS exchange halts trading for one ho
By PAUL THARP
The commodities bubble that choked the economy all summer with doubled energy and grain costs gasped its last breaths yesterday. Crude oil nose-dived in a steep fall that could take it down to the crucial $80-a-barrel mark, while gasoline fell...full story
Tue, 16 Sep 2008, 07:17
The Times
Surging fears of Armageddon in the global financial system ravaged a wide selection of commodities across Asia as everyone from hedge funds to...
THE FOURTH QUADRANT: A MAP OF THE LIMITS OF STATISTICS
Yesterday, Deloitte released its "2008 Fair Value Pricing Survey." In their research, the Deloitte team found that in a valuation environment complicated by structured products, rising price challenges associated with market unrest and defaults, and the introduction of an updated FAS 157 landscape, U.S. mutual funds are responding with a strong commitment to achieving fair value via an increased focus on policies, procedures and investment of resources.
_________________________________________________________________________
Yield Curve Corner
BusinessWeek - 1 hour ago
Surprise: Bernanke & Co. are still worried about inflation, not just the Wall Street credit crunch by Peter Coy Scratch that rate cut.
Bernanke Doesn't Budge
Motley Fool - USA
By Morgan Housel Ben Bernanke stood his ground today, keeping the Federal funds rate steady at 2%. Was it the right thing to do? As AIG (NYSE: AIG) totters ...
Motley Fool - USA
By Morgan Housel Ben Bernanke stood his ground today, keeping the Federal funds rate steady at 2%. Was it the right thing to do? As AIG (NYSE: AIG) totters ...
Rated By Idiots
Forbes - NY,USA
Which leads to the logical conclusion that perhaps the best thing Paulson, Bernanke, Geithner, et al., might do in the present crisis would be to shut down ...
Forbes - NY,USA
Which leads to the logical conclusion that perhaps the best thing Paulson, Bernanke, Geithner, et al., might do in the present crisis would be to shut down ...
_________________________________________________________________________
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/DSTmiddleeast260_N8.jpg
_________________________________________________________________________
Iranian Situation and Other Man Made Disasters
Iran gives full powers to hard-line Guards in Gulf
AP via Yahoo! News Tue, 16 Sep 2008 8:26 AM PDT
Iran announced Tuesday that it has put the elite Revolutionary Guards in charge of defending the country's territorial Persian Gulf waters in what appeared to be a hardening of its stance in the vital oil route.
AP via Yahoo! News Tue, 16 Sep 2008 8:26 AM PDT
Iran announced Tuesday that it has put the elite Revolutionary Guards in charge of defending the country's territorial Persian Gulf waters in what appeared to be a hardening of its stance in the vital oil route.
_________________________________________________________________________
Opalesque’s Corner
- Opalesque Exclusive: South African hedge funds, now more appetising for the international investor
- Opalesque Exclusive: Tai Tam Capital launching to outside investors after 12 months managing internal assets and returning +74%
- Performance - John W. Henry reports gains in three out of four products for August, Mulvaney takes second hit as trends reverse, -6.73% in August, Global Evolution EM hedge fund off to slow start
- Opalesque Exclusive: Zurich`s GL Funds lost less than 10%, Emerging Markets and Asia Funds performed worse, analogy with 2000
- Indices - Credit Suisse/Tremont Hedge Fund Index -1.47% in August, -3.55% YTD
- Opalesque Exclusive: IKANO selects Fisher to manage small cap value equity for its Portable Alpha Fund
- Strategies - Kass: `This is a time to watch and not a time to play`, Criterion commodity hedge fund moves from AIG-linked index into cash, Healthcare fund avoids insurance cos, biotech, Harbinger says it`s not dumping investments, seeks to quell rumors after share prices drop
- Analysis - Researchers to hedge fund investors: Don`t throw away Sharpe ratios just yet, Where is the `hedge` in hedge funds?
- Hedge Funds in Credit Crunch - Hedge funds dealt another blow by Lehman failure, Metage Capital: No exposure to Lehman, Blue Planet founder plays down Lehman, Merrill woes, BlackRock likely to stay independent after BoA buys Merrill stake, Arbitrage hedge funds not totally sold on Merrill sale To BofA, Hedge funds target UK`s Halifax, HBOS as shares crash 30%, Hedge funds reassess prime broker risk, funds that stayed with Lehman face possible losses, Short-sellers increase positions
- Comment - Lehman / Merrill woe will be great news for big hedge funds, not so good for small hedge funds
- Comment - PE and hedge funds such as Citadel may take Wall Street`s place
- Lehman Update - Lehman in new talks to sell assets to Barclays, Lehman`s outstanding debts total $600bln, Goldman Sachs to take control of Lehman`s specialist unit, Credit-default risk soars after Lehman files for bankruptcy, Lehman collapse spurs call for credit derivatives clearinghouse, UK FSA requests info from UK banks on their exposure to Lehman, MF Global says `no material exposure to Lehman Brothers`, Lehman collapse - what will happen next?, Bill Gross on Lehman (video)
- Credit Crunch Update - Stocks plunge amid Wall St crisis, biggest one-day decline since 9/11, US bank sector faces further closures (video), Last men standing - Goldman Sachs and Morgan Stanley face questions, The Street`s future, Old-school banks emerge atop new world of finance, Other Voices: Moral hazard argument can be hazardous to your health - more investors question governments will never let their largest banks fail, BofA's Ken Lewis on Merrill Lynch (video), Whitney On Wall Street`s Future (video), Paulson says prepared to act to ensure stability, Washington Mutual`s rating cut to junk, shares down 27%
- AIG Update - AIG struggles to survive financial tsunami, AIG gets New York`s help in accessing $20bln, AIG seeks funds from Goldman, JPMorgan
- M&A - Butterfield Fulcrum Group merger complete, now ranks among top 10 fund administrators
- Regulatory - SEC poised to act on short-selling
- Institutions - More trustees turn to hedge fund strategies, Report: 50% of institutional investors to increase allocations to alternative investments over next five years, U.S. nonprofit hospitals see drop in investment returns, but commitment to alternatives up 17%, CalPERS working on asset allocation changes
- People - Citadel hires two from Merrill Lynch to expand global reach in Europe, Middle East and Northern Africa, RWC Partners hires another Sofaer Capital manager for new Asia fund, Cani Financial Advisors appoints Daniel Lyle as director of sales and marketing, Como A. M. appoints Cynthia Williams as Director of investor relations and business development, AIG Investments hires director of alternative investments for Japan
- London, New York stand to suffer: Huge economic lift to cities will wane as jobs disappear
- Asia - Hong Kong hedge fund industry set to dominate Far East, Capital inflows to Asia will slow - Fitch, Wall St shockwaves hammer Asia stocks, China`s Hua An says Lehman woes to affect QDII fund
- Commodities - Read Opalesque`s free daily commodities publication, the Opalesque Commodities Briefings, Copper drops as commodities tumble following Lehman bankruptcy, Commodities across Asia ravaged as traders flee risk
- Exchanges - CME Group: Lehman Brothers Inc`s accounts are protected
- Activist News - US appeals court won`t block funds vote of CSX shares, CSX will seat fund board nominees after ruling
- News Briefs - Opalesque Exclusive: Deutsche banks on French alternatives, UK`s Paragon hit as it rejects GBP373m offer, Dow Jones STOXX SuperSector indexes licensed to ETF Securities Ltd, to underlie 3 ETFs, White paper: The New Fed Borrowing, A Layman`s Guide to Understanding Liquidity for Banks, Brokers and Hedge Funds
- ...And finally - When is it NOT necessary to call the police?
- Logon: http://www.opalesque.com/index.php?act=archive
- Opalesque Exclusive: Tai Tam Capital launching to outside investors after 12 months managing internal assets and returning +74%
- Performance - John W. Henry reports gains in three out of four products for August, Mulvaney takes second hit as trends reverse, -6.73% in August, Global Evolution EM hedge fund off to slow start
- Opalesque Exclusive: Zurich`s GL Funds lost less than 10%, Emerging Markets and Asia Funds performed worse, analogy with 2000
- Indices - Credit Suisse/Tremont Hedge Fund Index -1.47% in August, -3.55% YTD
- Opalesque Exclusive: IKANO selects Fisher to manage small cap value equity for its Portable Alpha Fund
- Strategies - Kass: `This is a time to watch and not a time to play`, Criterion commodity hedge fund moves from AIG-linked index into cash, Healthcare fund avoids insurance cos, biotech, Harbinger says it`s not dumping investments, seeks to quell rumors after share prices drop
- Analysis - Researchers to hedge fund investors: Don`t throw away Sharpe ratios just yet, Where is the `hedge` in hedge funds?
- Hedge Funds in Credit Crunch - Hedge funds dealt another blow by Lehman failure, Metage Capital: No exposure to Lehman, Blue Planet founder plays down Lehman, Merrill woes, BlackRock likely to stay independent after BoA buys Merrill stake, Arbitrage hedge funds not totally sold on Merrill sale To BofA, Hedge funds target UK`s Halifax, HBOS as shares crash 30%, Hedge funds reassess prime broker risk, funds that stayed with Lehman face possible losses, Short-sellers increase positions
- Comment - Lehman / Merrill woe will be great news for big hedge funds, not so good for small hedge funds
- Comment - PE and hedge funds such as Citadel may take Wall Street`s place
- Lehman Update - Lehman in new talks to sell assets to Barclays, Lehman`s outstanding debts total $600bln, Goldman Sachs to take control of Lehman`s specialist unit, Credit-default risk soars after Lehman files for bankruptcy, Lehman collapse spurs call for credit derivatives clearinghouse, UK FSA requests info from UK banks on their exposure to Lehman, MF Global says `no material exposure to Lehman Brothers`, Lehman collapse - what will happen next?, Bill Gross on Lehman (video)
- Credit Crunch Update - Stocks plunge amid Wall St crisis, biggest one-day decline since 9/11, US bank sector faces further closures (video), Last men standing - Goldman Sachs and Morgan Stanley face questions, The Street`s future, Old-school banks emerge atop new world of finance, Other Voices: Moral hazard argument can be hazardous to your health - more investors question governments will never let their largest banks fail, BofA's Ken Lewis on Merrill Lynch (video), Whitney On Wall Street`s Future (video), Paulson says prepared to act to ensure stability, Washington Mutual`s rating cut to junk, shares down 27%
- AIG Update - AIG struggles to survive financial tsunami, AIG gets New York`s help in accessing $20bln, AIG seeks funds from Goldman, JPMorgan
- M&A - Butterfield Fulcrum Group merger complete, now ranks among top 10 fund administrators
- Regulatory - SEC poised to act on short-selling
- Institutions - More trustees turn to hedge fund strategies, Report: 50% of institutional investors to increase allocations to alternative investments over next five years, U.S. nonprofit hospitals see drop in investment returns, but commitment to alternatives up 17%, CalPERS working on asset allocation changes
- People - Citadel hires two from Merrill Lynch to expand global reach in Europe, Middle East and Northern Africa, RWC Partners hires another Sofaer Capital manager for new Asia fund, Cani Financial Advisors appoints Daniel Lyle as director of sales and marketing, Como A. M. appoints Cynthia Williams as Director of investor relations and business development, AIG Investments hires director of alternative investments for Japan
- London, New York stand to suffer: Huge economic lift to cities will wane as jobs disappear
- Asia - Hong Kong hedge fund industry set to dominate Far East, Capital inflows to Asia will slow - Fitch, Wall St shockwaves hammer Asia stocks, China`s Hua An says Lehman woes to affect QDII fund
- Commodities - Read Opalesque`s free daily commodities publication, the Opalesque Commodities Briefings, Copper drops as commodities tumble following Lehman bankruptcy, Commodities across Asia ravaged as traders flee risk
- Exchanges - CME Group: Lehman Brothers Inc`s accounts are protected
- Activist News - US appeals court won`t block funds vote of CSX shares, CSX will seat fund board nominees after ruling
- News Briefs - Opalesque Exclusive: Deutsche banks on French alternatives, UK`s Paragon hit as it rejects GBP373m offer, Dow Jones STOXX SuperSector indexes licensed to ETF Securities Ltd, to underlie 3 ETFs, White paper: The New Fed Borrowing, A Layman`s Guide to Understanding Liquidity for Banks, Brokers and Hedge Funds
- ...And finally - When is it NOT necessary to call the police?
- Logon: http://www.opalesque.com/index.php?act=archive
_________________________________________________________________________
Misc. Items of Interest
_____________________________________________________________________
Funnies, Facts, Quotes, etc….
disconcert dis-kuhn-SURT, transitive verb:
1. To disturb the composure of.
2. To throw into disorder or confusion; as, "the emperor disconcerted the plans of his enemy."
2. To throw into disorder or confusion; as, "the emperor disconcerted the plans of his enemy."
_________________________________________________________________________
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:
_________________________________________________________________________
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)
_________________________________________________________________________
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
_________________________________________________________________________
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.
|
Manage your subscription
|