Archive: 09/18/2008
Main News
Hedge fund cash holdings at all-time high
Financial News - London,England,UK
Hedge fund managers have increased their cash positions as they are bracing themselves for withdrawals on 31 December, when investors have their next ...
Financial News - London,England,UK
Hedge fund managers have increased their cash positions as they are bracing themselves for withdrawals on 31 December, when investors have their next ...
Banks are not the only ones struggling in the growing financial crisis. The fund established to insure their deposits is also feeling the pinch, ...
Global Financial Institutions Eye Another Wave Of Write-Downs As U.S. Housing Woes Spread<http://now.eloqua.com/e/er.aspx?s=795&lid=7526&elq=CB89E1B92DAB438E8ACBAC3E3F479A11>
One of the nice things about visiting the American heartland is that you realize that Middle America has largely missed the ill-effects of the real estate bubble and the wonders of complex structured finance. Real estate markets outside of the two coasts did not rise nearly as much as the overheated markets on the nation's periphery and thus have less distance to fall in order to adjust.
Sep 17, 2008 ... Treasury 3-Month Bill Rates Drop to Lowest Since at Least 1954. ... U.S. Treasury three-month bill rates dropped to the lowest since at ...
The government's move to rescue AIG is a reminder that for all the talk of a free-market system where failure is the flip side of success, the government deems some institutions too big to fail.
Research Monthly – Fishing for complementsby Christopher C. Finger SBI AXA Life Insurance Selects RiskMetrics Group’s Market and Credit Risk Systems Press ...
Financial Calamities Could Spur More Hedge/Mutual Fund Convergence
Seeking Alpha - New York,NY,USA
Unlike the mega-hedge-fund-deals of the past, however, the first half of 2008 was marked by more mid-market transactions (up 57% vs. the same period last ...
Seeking Alpha - New York,NY,USA
Unlike the mega-hedge-fund-deals of the past, however, the first half of 2008 was marked by more mid-market transactions (up 57% vs. the same period last ...
Reserve Primary money market fund breaks a buck - 11 hours ago
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The question now is whether other money funds will follow the Reserve fund in dipping below $1. The $64.8 billion fund held $785 million in short-term IOUs, ... |
In an address at Georgetown University, the mayor on Wednesday voiced concern about foreigners shying away from buying U. S. debt as Wall Street suffers a crisis.
Creditors Could Go After Lehman Bonuses
Whether employees get to keep their generous $5.7 billion in 2007 bonuses may depend on whether the bank is found to have been solvent at the time they were made.
Whether employees get to keep their generous $5.7 billion in 2007 bonuses may depend on whether the bank is found to have been solvent at the time they were made.
Crisis Into Most Dangerous Phase: Global Insight
By: Reuters
Posted: 09/17/2008 2:49:48 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=dail&story=dail15267.html
By: Reuters
Posted: 09/17/2008 2:49:48 PM ET
http://www.hedgeworld.com/news/premium/read_news.cgi?section=dail&story=dail15267.html
Funds of Hedge Funds Growth Slows
FINalternatives - New York,NY,USA
Funds of hedge funds showed the first signs of an asset slowdown in the first half of 2008, but still posted a net inflow of some $50 billion despite ...
FINalternatives - New York,NY,USA
Funds of hedge funds showed the first signs of an asset slowdown in the first half of 2008, but still posted a net inflow of some $50 billion despite ...
Why aren't hedge funds failing as fast as banks?
Times Online - UK
To see this, consider the curious incident of the dog that hasn't barked - hedge funds. We have not (so far) seen a widespread collapse of these. ...
Times Online - UK
To see this, consider the curious incident of the dog that hasn't barked - hedge funds. We have not (so far) seen a widespread collapse of these. ...
Oil's Dramatic Price Retreat Ripples Around the World
(By Steven Mufson, The Washington Post)
(By Steven Mufson, The Washington Post)
Wednesday , 17 Sep 2008
A leading US precious metals analyst predicts gold will jump back as fast as it has come down and reach $1,000 again this year or early next - and perhaps $2,000 in the next few years.
A leading US precious metals analyst predicts gold will jump back as fast as it has come down and reach $1,000 again this year or early next - and perhaps $2,000 in the next few years.
Chaos in Moscow's financial markets has flummoxed the Kremlin. Foreign policy looks easy by comparison.
http://online.wsj.com/article/SB122166740098248227.html?mod=djemheard
http://online.wsj.com/article/SB122166740098248227.html?mod=djemheard
The latest corporate and regulatory scandal in China is having tragic consequences that should make would-be investors pause.
http://online.wsj.com/article/SB122165021482047619.html?mod=djemheard
http://online.wsj.com/article/SB122165021482047619.html?mod=djemheard
Russian bourses halt trading for second day. By Catherine Belton and Charle
Gross's Total Return Posts Biggest One-Day Drop in Three Years
Brazil: The Implications of Russia's Presence in South America. September 17, 2008 | 2152 GMT. Brazilian army soldiers in the Amazon forest ...
Statistics raise doubts about value of sell-side research
State Street Global Markets said fund managers are increasingly ignoring recommendations from sell-side bank analysts in Europe, while data from Bloomberg indicated that accuracy of the analysts' forecasts has dropped considerably. The statistics are emerging at a critical point for the research sector. "There have certainly been some layoffs. What I have been hearing on the Street is that this is the next shoe to drop; the ranks of the sell-side analysts will be the next to be hit," said Stephen Horan of the CFA Institute. Financial Times (14 Sep.)
State Street Global Markets said fund managers are increasingly ignoring recommendations from sell-side bank analysts in Europe, while data from Bloomberg indicated that accuracy of the analysts' forecasts has dropped considerably. The statistics are emerging at a critical point for the research sector. "There have certainly been some layoffs. What I have been hearing on the Street is that this is the next shoe to drop; the ranks of the sell-side analysts will be the next to be hit," said Stephen Horan of the CFA Institute. Financial Times (14 Sep.)
The Conference Board Working Group on Hedge Fund Activism Issues Final Recommendations for Corporations and Investors
PR Newswire via Yahoo! Finance Wed, 17 Sep 2008 7:00 AM PDT
The Conference Board Working Group on Hedge Fund Activism has released its final recommendations for those corporations and institutional investors that may find themselves involved in an activism campaign mounted by hedge funds.
PR Newswire via Yahoo! Finance Wed, 17 Sep 2008 7:00 AM PDT
The Conference Board Working Group on Hedge Fund Activism has released its final recommendations for those corporations and institutional investors that may find themselves involved in an activism campaign mounted by hedge funds.
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Yield Curve Corner
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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/TRCsinlaku261_N7.jpg
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Iranian Situation and Other Man Made Disasters
Clinton pulls out of Iran demonstration due to Palin
Reuters via Yahoo! News Wed, 17 Sep 2008 10:15 AM PDT
U.S. Sen. Hillary Clinton canceled her appearance at a demonstration against the president of Iran after learning Republican vice presidential candidate Sarah Palin will be there, a Clinton aide said on Wednesday.
Reuters via Yahoo! News Wed, 17 Sep 2008 10:15 AM PDT
U.S. Sen. Hillary Clinton canceled her appearance at a demonstration against the president of Iran after learning Republican vice presidential candidate Sarah Palin will be there, a Clinton aide said on Wednesday.
Russia: Georgia might be Iran platform
UPI Wed, 17 Sep 2008 11:35 AM PDT
BRUSSELS, Sept. 17 (UPI) -- The Russian envoy to NATO suggested Wednesday the United States is planning to attack Iran through Georgia.
UPI Wed, 17 Sep 2008 11:35 AM PDT
BRUSSELS, Sept. 17 (UPI) -- The Russian envoy to NATO suggested Wednesday the United States is planning to attack Iran through Georgia.
Earthquake shakes south Iran - media
Yahoo! Asia News Wed, 17 Sep 2008 12:22 PM PDT
TEHRAN (Reuters) - A 5 magnitude earthquake struck southern Iran on Wednesday near the port of Bandar Abbas, site of a major oil refinery, Iranian media reported, without mentioning any casualties or damage.
Yahoo! Asia News Wed, 17 Sep 2008 12:22 PM PDT
TEHRAN (Reuters) - A 5 magnitude earthquake struck southern Iran on Wednesday near the port of Bandar Abbas, site of a major oil refinery, Iranian media reported, without mentioning any casualties or damage.
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Opalesque’s Corner
- Global Alpha Forum Report - Opalesque Exclusive: As U.S. political nominees call for increased regulation of the financial industry, Opalesque speaks with Rudolph Giuliani about the dangers which arise when `checking off regulatory boxes` becomes the main focus of investment firms, Hopes and fears mix at Connecticut hedge fund conference
- Fund launches - Ritchie Capital veteran launches global macro hedge fund, Thames River plans two FoHF launches in Q1 2009, DragonBack launches volatility fund today
- Toronto`s Lionhart freezes redemptions on 2 ailing hedge funds
- Opalesque Exclusive: Henderson Japan Absolute Return Fund up 1.84% YTD, Topix down 10.7%, managers hopeful about Japan: no return to the 90s
- Opalesque Exclusive: Amsterdam`s Theta Multistar FoHFs lost 2.31% in August, manager believes current forced selling creates opportunities not seen for many years
- Opalesque Exclusive: Gottex`s AUM at $15.6bln for H1-2008, CEO says investors have adopted `wait and see` attitude, plans launch of multi-asset initiative
- Opalesque Exclusive: Reech`s Iceberg Alternative Real Estate Fund returns +1.38% in August, +6.54% YTD
- Performance - Opalesque Exclusive: Laven`s Global Systematic Fund up 8.07% YTD, Man Group AHL Diversified Futures up +18.3% in last 12 months, Pooled FoHF managers back in positive territory in Q2 - BNY Mellon, Tokyo SRI firm Moon Light Capital dips as markets tumble
- Assets - HFI: FoHFs pulled in $50bln in first half of the year, Startup seeks seeder for ContraQuant trading model
- Indices - Eurekahedge Hedge Fund Index down third month in a row, -1.38%(est.) in August, -3.37% YTD, Eurekahege commentary
- Hedge fund market`s growth in doubt: The vicious circle of rarified funding, less leverage, safer strategies, sitting on cash
- Hedge Funds in Credit Crunch - Comment: Why aren`t hedge funds failing as fast as banks?, Hedge funds` Lehman exposure lies in unsettled trades, Hedge funds left in bind by collapse of Lehman, FoFs to Investors: Lehman risk is minimal, Augustus wary of AIG knock-on effects, GLG says no material exposure to Lehman, The future of BlackRock (video)
- Lehman Update - Barclays acquires Lehman`s core assets for $1.75bln, Barclays to increase headcount and standings with Lehman buy, Creditors could go after Lehman bonuses, Lehman cancels auction of LBO loans as prices plummet, CV flood expected from Lehman`s 2,900 Asia personnel, prime unit shut
- AIG Update - Fed takes over AIG in $85 billion loan deal, AIG will not fail, experts say, Greenberg`s Starr looking into strategic options with Perella Weinberg, Comment: Only the little people pay taxes losses, Stocks rally on AIG rescue
- Credit Crunch Update - Goldman, Morgan Stanley profits fall amid slump but beat expectations, HBOS shares slide on funding concerns, UK inflation hits highest level in 16 years, Macquarie denies speculations on funding shortfall, Sovereign wealth funds choose to wait, Fed leaves rates unchanged but is monitoring credit crisis
- Regulatory - UK faces call for short-selling crackdown after HBOS plunge, IOSCO urges greater international coordination in the oversight of credit rating agencies, Update: Credit Suisse in $550m auction-rate securities buyback
- Legal - BVI high court issues multi-jurisdictional ruling to protect HSBC and the Hermitage Fund from Russian fraud, Bail-jumping plea delayed again for Samuel Israel, Two hedge funds convince US judge to freeze Argentine assets, Shareholder to sue over Merrill deal, Billionaire Igor Olenicoff sues UBS, claiming fraud
- Institutions - Vervoer pension fund applies tactical asset allocation but divests `activist` hedge funds, West Virginia State fund now has authority to invest in alternatives
- Financial services recruiters flooded with resumes
- Asia - Opalesque Exclusive: EIP relocates in Hong Kong, brings in David Lau, Lehman`s collapse triggers tougher times ahead for Asia, Asian funds defensive after AIG as fears linger, Mitsubishi UFJ to sell fund that tracks Winton`s performance, Baring Asset Management expands Korean presence with sales office in Seoul, Buy exotic, not vanilla, options for rupee risk, Barclays says
- Commodities - Read Opalesque`s free daily commodities publication, the Opalesque Commodities Briefings, Senate panel hears divided testimony on oil speculation, Commodities battered for second straight day
- News Briefs - Citi and Good Energies lead $140m solar energy financing, Damien Hirst makes history, Russian equity collapse causes market suspension, Central Bank of Bahrain assessing impact of Lehman bankruptcy, no liquidity problem
- ...And Finally - `The sky is the limit on how far we can take this,` City uses DNA to fight dog poop
- Logon: http://www.opalesque.com/index.php?act=archive
- Fund launches - Ritchie Capital veteran launches global macro hedge fund, Thames River plans two FoHF launches in Q1 2009, DragonBack launches volatility fund today
- Toronto`s Lionhart freezes redemptions on 2 ailing hedge funds
- Opalesque Exclusive: Henderson Japan Absolute Return Fund up 1.84% YTD, Topix down 10.7%, managers hopeful about Japan: no return to the 90s
- Opalesque Exclusive: Amsterdam`s Theta Multistar FoHFs lost 2.31% in August, manager believes current forced selling creates opportunities not seen for many years
- Opalesque Exclusive: Gottex`s AUM at $15.6bln for H1-2008, CEO says investors have adopted `wait and see` attitude, plans launch of multi-asset initiative
- Opalesque Exclusive: Reech`s Iceberg Alternative Real Estate Fund returns +1.38% in August, +6.54% YTD
- Performance - Opalesque Exclusive: Laven`s Global Systematic Fund up 8.07% YTD, Man Group AHL Diversified Futures up +18.3% in last 12 months, Pooled FoHF managers back in positive territory in Q2 - BNY Mellon, Tokyo SRI firm Moon Light Capital dips as markets tumble
- Assets - HFI: FoHFs pulled in $50bln in first half of the year, Startup seeks seeder for ContraQuant trading model
- Indices - Eurekahedge Hedge Fund Index down third month in a row, -1.38%(est.) in August, -3.37% YTD, Eurekahege commentary
- Hedge fund market`s growth in doubt: The vicious circle of rarified funding, less leverage, safer strategies, sitting on cash
- Hedge Funds in Credit Crunch - Comment: Why aren`t hedge funds failing as fast as banks?, Hedge funds` Lehman exposure lies in unsettled trades, Hedge funds left in bind by collapse of Lehman, FoFs to Investors: Lehman risk is minimal, Augustus wary of AIG knock-on effects, GLG says no material exposure to Lehman, The future of BlackRock (video)
- Lehman Update - Barclays acquires Lehman`s core assets for $1.75bln, Barclays to increase headcount and standings with Lehman buy, Creditors could go after Lehman bonuses, Lehman cancels auction of LBO loans as prices plummet, CV flood expected from Lehman`s 2,900 Asia personnel, prime unit shut
- AIG Update - Fed takes over AIG in $85 billion loan deal, AIG will not fail, experts say, Greenberg`s Starr looking into strategic options with Perella Weinberg, Comment: Only the little people pay taxes losses, Stocks rally on AIG rescue
- Credit Crunch Update - Goldman, Morgan Stanley profits fall amid slump but beat expectations, HBOS shares slide on funding concerns, UK inflation hits highest level in 16 years, Macquarie denies speculations on funding shortfall, Sovereign wealth funds choose to wait, Fed leaves rates unchanged but is monitoring credit crisis
- Regulatory - UK faces call for short-selling crackdown after HBOS plunge, IOSCO urges greater international coordination in the oversight of credit rating agencies, Update: Credit Suisse in $550m auction-rate securities buyback
- Legal - BVI high court issues multi-jurisdictional ruling to protect HSBC and the Hermitage Fund from Russian fraud, Bail-jumping plea delayed again for Samuel Israel, Two hedge funds convince US judge to freeze Argentine assets, Shareholder to sue over Merrill deal, Billionaire Igor Olenicoff sues UBS, claiming fraud
- Institutions - Vervoer pension fund applies tactical asset allocation but divests `activist` hedge funds, West Virginia State fund now has authority to invest in alternatives
- Financial services recruiters flooded with resumes
- Asia - Opalesque Exclusive: EIP relocates in Hong Kong, brings in David Lau, Lehman`s collapse triggers tougher times ahead for Asia, Asian funds defensive after AIG as fears linger, Mitsubishi UFJ to sell fund that tracks Winton`s performance, Baring Asset Management expands Korean presence with sales office in Seoul, Buy exotic, not vanilla, options for rupee risk, Barclays says
- Commodities - Read Opalesque`s free daily commodities publication, the Opalesque Commodities Briefings, Senate panel hears divided testimony on oil speculation, Commodities battered for second straight day
- News Briefs - Citi and Good Energies lead $140m solar energy financing, Damien Hirst makes history, Russian equity collapse causes market suspension, Central Bank of Bahrain assessing impact of Lehman bankruptcy, no liquidity problem
- ...And Finally - `The sky is the limit on how far we can take this,` City uses DNA to fight dog poop
- Logon: http://www.opalesque.com/index.php?act=archive
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Misc. Items of Interest
New York Would Suffer Under Obama Tax Plan
BY JACOB GERSHMAN - Staff Reporter of the Sun
New York is one of a handful of states that would be hit with a net increase in federal taxes under Senator Obama's tax plan, according to a new study.
BY JACOB GERSHMAN - Staff Reporter of the Sun
New York is one of a handful of states that would be hit with a net increase in federal taxes under Senator Obama's tax plan, according to a new study.
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Funnies, Facts, Quotes, etc….
vociferous oh-SIF-uhr-uhs, adjective:
Making a loud outcry; clamorous; noisy.
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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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