Archive: 10/13/2008
Main News
Funds of funds facing unprecedented withdrawals
It may be premature to write the epitaph for funds of hedge funds, but industry practitioners are giving them a less than glowing prognosis after losing 11% this year.
http://mail.efnmail.co.uk/r/405149/MTk4MTI1OjE4OTYx/
It may be premature to write the epitaph for funds of hedge funds, but industry practitioners are giving them a less than glowing prognosis after losing 11% this year.
http://mail.efnmail.co.uk/r/405149/MTk4MTI1OjE4OTYx/
HEDGE BLUES
New York Post Sun, 12 Oct 2008 2:17 AM PDT
The hedge-fund industry may lose as much as onefifth of its $1.93 trillion in assets by the end of the year as markets decline and investors withdraw their money, according to Commerzbank AG. The amount of firepower in the form of capital deployed...
New York Post Sun, 12 Oct 2008 2:17 AM PDT
The hedge-fund industry may lose as much as onefifth of its $1.93 trillion in assets by the end of the year as markets decline and investors withdraw their money, according to Commerzbank AG. The amount of firepower in the form of capital deployed...
World Leaders Offer Unity But No Steps To Ease Crisis
Officials from 20 major countries yesterday endorsed a coordinated approach to the financial crisis, but they failed to announce any concrete steps, underscoring the difficulty of crafting a global plan to halt the contagion as it spread to the broader economy.
(By Anthony Faiola and Neil Irwin, The Washington Post)
Officials from 20 major countries yesterday endorsed a coordinated approach to the financial crisis, but they failed to announce any concrete steps, underscoring the difficulty of crafting a global plan to halt the contagion as it spread to the broader economy.
(By Anthony Faiola and Neil Irwin, The Washington Post)
Pompeii's Villas and Rome Burns While Bernanke Fiddles
RGE Monitor - New York,NY,USA
My suspicion ...is that he [Bernanke] thinks buying the toxic assets is a bad idea .... I think Bernanke believed all along that a recapitalization was the ...
RGE Monitor - New York,NY,USA
My suspicion ...is that he [Bernanke] thinks buying the toxic assets is a bad idea .... I think Bernanke believed all along that a recapitalization was the ...
Gibbs wary of banks risk
As investors flee from risky asset classes and pile into what they hope will be safer investments, fund managers with a reputation for cautious investing are winning out.
http://mail.efnmail.co.uk/r/405102/MTk4MTI1OjE4OTYx/
As investors flee from risky asset classes and pile into what they hope will be safer investments, fund managers with a reputation for cautious investing are winning out.
http://mail.efnmail.co.uk/r/405102/MTk4MTI1OjE4OTYx/
Wall Street in biggest fall since 1987 crash
Oct 10 2008 03:28
The US stock market suffered its largest loss since the crash of 1987 amid panic over GM, Morgan Stanley and several big insurers, heightening speculation that the US would unveil a bank recapitalisation plan soon Read more »
Oct 10 2008 03:28
The US stock market suffered its largest loss since the crash of 1987 amid panic over GM, Morgan Stanley and several big insurers, heightening speculation that the US would unveil a bank recapitalisation plan soon Read more »
Volatility knocks Henderson
Oct 10 2008 03:11
Shares of the UK fund manager slumped issuing a surprise warning, saying that profits would be lower than the predicted £90m, with assets and fees both under pressure Read more »
Oct 10 2008 03:11
Shares of the UK fund manager slumped issuing a surprise warning, saying that profits would be lower than the predicted £90m, with assets and fees both under pressure Read more »
Iceland suspends trading after bank seizures
Oct 09 2008 19:06
Iceland's financial crisis escalates with all stock market trading suspended after Kaupthing, the country's biggest bank, followed domestic peers into state ownership Read more »
Oct 09 2008 19:06
Iceland's financial crisis escalates with all stock market trading suspended after Kaupthing, the country's biggest bank, followed domestic peers into state ownership Read more »
Oct 9, 2008 ... NEW YORK (Dow Jones)--Banks are beating a hasty retreat from the physical oil and fuel markets, as the credit crisis cuts financial ...
The Anatomy of Fear, and Its Effect on the Economy
Newsweek Sat, 11 Oct 2008 11:59 AM PDT
The technology that transmits odors and fragrances digitally is still in the very early stages of development. But on Monday, Oct. 6, the whiff of fear emanating from the television was overwhelming. James Cramer, CNBC star, ex-hedge-fund manager, mascot of the 1990s tech boom and the recent bull market, was throwing up his hands. "There's always a bull market somewhere" has long been one of his ...
Newsweek Sat, 11 Oct 2008 11:59 AM PDT
The technology that transmits odors and fragrances digitally is still in the very early stages of development. But on Monday, Oct. 6, the whiff of fear emanating from the television was overwhelming. James Cramer, CNBC star, ex-hedge-fund manager, mascot of the 1990s tech boom and the recent bull market, was throwing up his hands. "There's always a bull market somewhere" has long been one of his ...
Quitting the Hedge Fund Game
Conde Nast Portfolio - New York,NY,USA
Managing a hedge fund is a high-stress activity at the best of times. And given the quantum leap in stress that all hedge-fund managers have experienced in ...
Conde Nast Portfolio - New York,NY,USA
Managing a hedge fund is a high-stress activity at the best of times. And given the quantum leap in stress that all hedge-fund managers have experienced in ...
Lehman collapse puts hedge fund in dire straits
CNN Money Fri, 10 Oct 2008 9:06 AM PDT
September was arguably the worst month in hedge fund history, as unprecedented volatility in the capital markets forced once-mighty investment managers to book losses that had been thought unimaginable.
CNN Money Fri, 10 Oct 2008 9:06 AM PDT
September was arguably the worst month in hedge fund history, as unprecedented volatility in the capital markets forced once-mighty investment managers to book losses that had been thought unimaginable.
Quitting the Hedge Fund Game
Portfolio.com via Yahoo! Finance Fri, 10 Oct 2008 2:34 PM PDT
This I can understand: For some, the volatile market has been too much. Such is the case for Mark Sellers, who runs a small energy fund Sellers Capital. After posting eye-popping returns of 65 percent in the first half of the year, the 40-year-old Sellers alerted investors last month he was closing shop and retiring from the profession.
Portfolio.com via Yahoo! Finance Fri, 10 Oct 2008 2:34 PM PDT
This I can understand: For some, the volatile market has been too much. Such is the case for Mark Sellers, who runs a small energy fund Sellers Capital. After posting eye-popping returns of 65 percent in the first half of the year, the 40-year-old Sellers alerted investors last month he was closing shop and retiring from the profession.
Hedge Funds May Reduce Volatility
The record price swings experienced in the market may settle after the end of a three-week ban on short selling financial stocks.
The record price swings experienced in the market may settle after the end of a three-week ban on short selling financial stocks.
Short Ban, Lehman Worsened Crisis
Chairman of hedge-fund firm EIM SA Arpad “Arki” Busson said short sales limits and an the investment account freeze Lehman Brothers Holdings Inc. worsened the global financial crisis.
Chairman of hedge-fund firm EIM SA Arpad “Arki” Busson said short sales limits and an the investment account freeze Lehman Brothers Holdings Inc. worsened the global financial crisis.
By Chris Whalen
October 8, 2008 7 AM
By Yerram Raju Behara
October 4, 2008 6 AM
By Odette Gregory
October 2, 2008 6 PM
Oct 10, 2008 ... Lehman Credit-Swap Auction Sets Payout of 91.38 Cents (Update1) ... holders 91.375 cents on the dollar, setting up the biggest-ever payout ...
Investors given chance to quit MW Tops fund
Financial Times (subscription) - London,England,UK
By Steve Johnson Investors in Marshall Wace’s £754m London-listed MW Tops hedge fund have been offered the chance to withdraw from the fund at close to its ...
Financial Times (subscription) - London,England,UK
By Steve Johnson Investors in Marshall Wace’s £754m London-listed MW Tops hedge fund have been offered the chance to withdraw from the fund at close to its ...
Soros star backs boutique
Nick Roditi, a star fund manager who worked with George Soros and Lord Jacob Rothschild, has set up Belvedere Investment Partners, an asset manager in London that will focus on Asian investments.
http://mail.efnmail.co.uk/r/405104/MTk4MTI1OjE4OTYx/
Nick Roditi, a star fund manager who worked with George Soros and Lord Jacob Rothschild, has set up Belvedere Investment Partners, an asset manager in London that will focus on Asian investments.
http://mail.efnmail.co.uk/r/405104/MTk4MTI1OjE4OTYx/
Still Holding BackAN INTERVIEW WITH JEREMY GRANTHAM: His warnings against risk-taking fell on deaf ears. Now he says the biggest mistake might be buying too soon.
http://online.barrons.com/article/SB122367853796824483.html?mod=djemWR
http://online.barrons.com/article/SB122367853796824483.html?mod=djemWR
Armageddon averted - at 3.30pm tomorrow
The time to get back into the equity market is on Tuesday at 3.30pm BST, according to stock market veteran Robin Griffiths.
http://mail.efnmail.co.uk/r/405106/MTk4MTI1OjE4OTYx/
The time to get back into the equity market is on Tuesday at 3.30pm BST, according to stock market veteran Robin Griffiths.
http://mail.efnmail.co.uk/r/405106/MTk4MTI1OjE4OTYx/
Business risk focuses the mind at Aberdeen Asset Management
Even asset managers with 25 years of experience have been wrongfooted by current financial conditions, according to Martin Gilbert, chief executive of UK fund manager Aberdeen Asset Management.
http://mail.efnmail.co.uk/r/405109/MTk4MTI1OjE4OTYx/
Even asset managers with 25 years of experience have been wrongfooted by current financial conditions, according to Martin Gilbert, chief executive of UK fund manager Aberdeen Asset Management.
http://mail.efnmail.co.uk/r/405109/MTk4MTI1OjE4OTYx/
French President faces austerity crisis
Presidents of the French Republic for the past 30 years have had the common failing of ignorance on economic issues. They spend their campaigns making promises to voters only to forget them once they have taken office and discovered the reality of the nation's accounts.
http://mail.efnmail.co.uk/r/405123/MTk4MTI1OjE4OTYx/
Presidents of the French Republic for the past 30 years have had the common failing of ignorance on economic issues. They spend their campaigns making promises to voters only to forget them once they have taken office and discovered the reality of the nation's accounts.
http://mail.efnmail.co.uk/r/405123/MTk4MTI1OjE4OTYx/
Whatever happened about regulation?
Eighteen months ago, having a sizeable holding of credit default swaps looked like a smart trading position. A collateralised debt obligation squared seemed like a cunning way of squeezing a few extra basis points of return and Iceland's banks seemed to be revelling in an exciting, successful new business model.
http://mail.efnmail.co.uk/r/405132/MTk4MTI1OjE4OTYx/
Eighteen months ago, having a sizeable holding of credit default swaps looked like a smart trading position. A collateralised debt obligation squared seemed like a cunning way of squeezing a few extra basis points of return and Iceland's banks seemed to be revelling in an exciting, successful new business model.
http://mail.efnmail.co.uk/r/405132/MTk4MTI1OjE4OTYx/
The seizure of Iceland's three biggest banks is contributing to the downward spiral in which financial markets find themselves.
http://online.wsj.com/article/SB122384984041026957.html?mod=djemheard
http://online.wsj.com/article/SB122384984041026957.html?mod=djemheard
The leveraged-loan market is under pressure and causing sweaty palms at private-equity firms such as Apollo Management, Blackstone Group and TPG.
http://online.wsj.com/article/SB122386102743027647.html?mod=djemheard
http://online.wsj.com/article/SB122386102743027647.html?mod=djemheard
TROUBLE SHOOTER
New York Post Sun, 12 Oct 2008 2:16 AM PDT
Jeffrey Gendell has a message for anyone who lost money in his hedge fund: Good news! I'm letting you double down your bets. Despite a 65 percent year-to-date loss, Gendell's $10 billion Tontine Associates hedge fund sent a letter to investors...
New York Post Sun, 12 Oct 2008 2:16 AM PDT
Jeffrey Gendell has a message for anyone who lost money in his hedge fund: Good news! I'm letting you double down your bets. Despite a 65 percent year-to-date loss, Gendell's $10 billion Tontine Associates hedge fund sent a letter to investors...
Ten European fund managers sign HFSB code of best practice
Hedge Funds Review Magazine - London,England,UK
The Hedge Fund Standards Board (HFSB) has signed 10 hedge fund managers to its standards of best practice. Arrowgrass Capital Partners, Blackrock Investment ...
Hedge Funds Review Magazine - London,England,UK
The Hedge Fund Standards Board (HFSB) has signed 10 hedge fund managers to its standards of best practice. Arrowgrass Capital Partners, Blackrock Investment ...
A £516 trillion derivatives 'time-bomb'
Independent - London,England,UK
Polygon, once a darling of the London hedge fund circuit, last week said it was capping the basic salaries of its managers to £100000 each. ...
Independent - London,England,UK
Polygon, once a darling of the London hedge fund circuit, last week said it was capping the basic salaries of its managers to £100000 each. ...
INTERVIEW-Harcourt sees market bottom
Reuters UK - UK
"Now we're gradually starting seeing attractive opportunities in certain hedge-fund strategies and are getting ready to invest." He also said the firm was ...
Reuters UK - UK
"Now we're gradually starting seeing attractive opportunities in certain hedge-fund strategies and are getting ready to invest." He also said the firm was ...
Furious investors riot against Lehman
Here Is The City - Friday October 10, 08:29 BST
Here Is The City - Friday October 10, 08:29 BST
Emerging-market shares suffer biggest one-day fall in decades
Firms in developing countries are wondering why emerging-market shares, even for fundamentally strong "mega-cap" companies, are getting hammered more than those in rich countries. Data from credit-default swaps suggest that borrowing costs for big, well-managed firms in emerging markets spiked, despite the fact that emerging-market industrial companies, like their governments, carry less debt than their Western equivalents. But, as in earlier crises, investors are not discriminating much. The Economist (09 Oct.)
Firms in developing countries are wondering why emerging-market shares, even for fundamentally strong "mega-cap" companies, are getting hammered more than those in rich countries. Data from credit-default swaps suggest that borrowing costs for big, well-managed firms in emerging markets spiked, despite the fact that emerging-market industrial companies, like their governments, carry less debt than their Western equivalents. But, as in earlier crises, investors are not discriminating much. The Economist (09 Oct.)
Henderson stock plunges on profit warning
Henderson Group's stock price on Thursday hit its lowest level since late 2005 following a profit warning from the UK fund manager. (The Independent)
http://mail.efnmail.co.uk/r/404644/MTk4MTI1OjE4OTQ3/
Henderson Group's stock price on Thursday hit its lowest level since late 2005 following a profit warning from the UK fund manager. (The Independent)
http://mail.efnmail.co.uk/r/404644/MTk4MTI1OjE4OTQ3/
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Yield Curve Corner
Credit crisis diary: Ben Bernanke tops the bestseller charts
Independent - London,England,UK
Poor Ben Bernanke is assailed for failing to predict the severity of the credit crisis, but it is not all doom and gloom for the brainy Fed chairman. ...
Independent - London,England,UK
Poor Ben Bernanke is assailed for failing to predict the severity of the credit crisis, but it is not all doom and gloom for the brainy Fed chairman. ...
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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/TRCnorbert284G11.jpg
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Iranian Situation and Other Man Made Disasters
The almost halving of the oil price since July could threaten a number of OPEC nations and their national oil companies with economic instability.
http://online.wsj.com/article/SB122385145569427001.html?mod=djemheard
http://online.wsj.com/article/SB122385145569427001.html?mod=djemheard
Iran arrests dissident cleric's aide: reports
AFP via Yahoo! News Sun, 12 Oct 2008 2:38 AM PDT
Iran has arrested an aide to Grand Ayatollah Hossein-Ali Montazeri following fresh criticism by the dissident cleric against Islamic republic leaders over freedom, reports said on Sunday.
AFP via Yahoo! News Sun, 12 Oct 2008 2:38 AM PDT
Iran has arrested an aide to Grand Ayatollah Hossein-Ali Montazeri following fresh criticism by the dissident cleric against Islamic republic leaders over freedom, reports said on Sunday.
Iran seeks U.N. Security Council seat
Reuters via Yahoo! UK & Ireland News Sun, 12 Oct 2008 7:21 AM PDT
Iran, under U.N. Security Council sanctions over its nuclear program, will seek a seat on the council in an election this week that will pit it in a probably hopeless contest against Japan.
Reuters via Yahoo! UK & Ireland News Sun, 12 Oct 2008 7:21 AM PDT
Iran, under U.N. Security Council sanctions over its nuclear program, will seek a seat on the council in an election this week that will pit it in a probably hopeless contest against Japan.
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Opalesque’s Corner
- Opalesque Exclusive: How the Emergency Economic Stabilization Act affects hedge fund managers with offshore funds, changes to deferred taxation of fee income
- Opalesque Exclusive: Canada shop Creststreet plans to launch an offshore alternative energy fund later this fall, onshore version returned 209% since November 2007 inception
- Fund launches - New Stream Capital launches energy finance fund, F&C launches active return fund which will target absolute returns, low volatility, Merriman puts off plans to launch cleantech hedge fund, faces lawsuits
- Closures – Drake completes wind-down started in May, closes three hedge funds, plans new funds, Julius Baer`s GAM unit shuts equities fund after assets shrink, Paul Touradji: Sharp drop in number of hedge funds likely
- Performance - Merchant Commodity fund up 12% in September, Touradji`s resource fund up 12.7% in 2H so far, UK HF Polygon maintains partners` pay limit, flagship fund drops 19% YTD, redemptions restricted, Blackfish`s Exodus L/S fund down 6.73%, -20.60% YTD, Henderson Group issues profit warning, shares slump
- Opalesque Exclusive: Austria-based FTC Capital GmbH`s managed futures funds return 18% to 39% YTD
- Indices - Dow Jones Hedge Fund Indices: All strategies posted losses in September, Hedgegate Swiss FoHF Index down 2% in August, Barclay CTA Index gains 0.68% in September, 7.86% YTD, Markit LCDX fall 3.35 percentage points in biggest drop ever as banks, hedge funds sell assets
- M&A: Silvercrest A.M. acquires Boston`s Marathon Capital Group
- Banks battle for prime brokerage market share, `25% to 50% of HF assets could switch prime brokers this year`
- Credit Suisse/Tremont market insight: Impact of recent market events on the hedge fund industry
- Launch of the Hedge Fund Matrix: Ground-breaking project a step towards harmonised hedge fund practices
- Short Selling Regulations - Short-sale ban ends to poor reviews, The no-short club takes a beating: stocks protected by ban are among the biggest decliners, MFA commends SEC for lifting short selling ban, Clifford Chance: New short selling bans in Iceland and Norway
- Credit Crunch Update - Wall Street in sharpest fall since 1987 crash, US under pressure on cash injection plan, Comment: The U.S. Treasury, the world`s biggest hedge fund, MUFG: no plans to pull out of $9bln investment in Morgan Stanley, Citi hands Wells Fargo victory in fight for Wachovia, AIG increases borrowings to another $9bln while racing to sell assets, Lehman failure may spark record payout for credit swap sellers
- Opinions - Former FDIC chair blames SEC for credit crunch, EIM`s Busson: short ban, Lehman collapse made crisis worse, Roubini: World needs 1.5 point rate cut to avert disaster
- Europe - Update: UK and Iceland clash on crisis, UK bank bail-out: what does it really change?, UK lenders seek capital to stay private, Iceland closes stock exchange until Monday, Wealthy Swiss clients caught up in Icelandic meltdown, Ireland deposit guarantee extended to overseas banks, Swiss would save UBS or Credit Suisse from collapse, economics minister says, Dexia gains Belgian bank guarantee, G7 meeting: France will not follow UK proposal to provide medium-term guarantees for interbank lending
- Opalesque Exclusive: Absolut report: German-speaking market is largest asset-pool in Europe, highest growth potential in alternative asset classes
- Asia - Panic strangles Asia stocks but yen firm, Hiring has come to a standstill in Asia`s asset management industry, SZTIC to launch new hedge fund products in tough market, Chinese QDII fund manager adopts FOF to control risk, Overseas hedge fund to invest Chinese company, China`s struggle for a voice in commodities market reflects urgent need for local HF talents, Japanese insurer Yamato Life files for bankruptcy, citing alternative investments
- Merrill Lynch: Emerging markets in maximum danger, have suffered $30bln in outflows in recent weeks
- Legal - Ex-Enron official and Trident HF manager Shankman sued by Gallery over art
- Opalesque Exclusive: London currency risk manager Cambridge Strategy makes 3 new hires, while strategies make positive returns
- People - Jupiter A.M. appoints new hedge fund business development director, Samena Capital expands team with five investment professionals, JO Hambro appoints Gavin Rochussen as new CEO, SSgA to shut down fundamental equity team
- Institutions - Pension funds favour `plain vanilla` in commodities, shift away from complex derivatives, Credit crisis sparks pension buyout slump
- Commodities - Oil slides as Opec calls emergency meeting, Read Opalesque`s Commodities Briefings, the free daily commodities publication
- Environmental Investing - Green fund sales dive over credit crunch concerns
- BCM launches CTA database for managed futures investors
- Real Estate - Eurex to launch real estate derivatives as first European exchange, Read Opalesque`s Real Estate Briefing, the new free daily Real Estate publication
- Opalesque Exclusive: Altesque Events presents 2008 Hedge Fund Insider`s Update, NYC, November 10th
- Awards - SAIMA 2008 - Complete shortlists unveiled, Nuveen Investments president Mark Anson honored for hedge fund research
- News Briefs - Lakshmi Mittal loses half his GBP40bln fortune, G7 faces huge pressure to revive global financial system, Australia, New Zealand dollars post biggest drops in 25 years
- ...And finally - Ka-Boom: Angry about economy? Smash some plates and move on, Some Wall Street jokes
- Logon: http://www.opalesque.com/index.php?act=archive
- Opalesque Exclusive: Canada shop Creststreet plans to launch an offshore alternative energy fund later this fall, onshore version returned 209% since November 2007 inception
- Fund launches - New Stream Capital launches energy finance fund, F&C launches active return fund which will target absolute returns, low volatility, Merriman puts off plans to launch cleantech hedge fund, faces lawsuits
- Closures – Drake completes wind-down started in May, closes three hedge funds, plans new funds, Julius Baer`s GAM unit shuts equities fund after assets shrink, Paul Touradji: Sharp drop in number of hedge funds likely
- Performance - Merchant Commodity fund up 12% in September, Touradji`s resource fund up 12.7% in 2H so far, UK HF Polygon maintains partners` pay limit, flagship fund drops 19% YTD, redemptions restricted, Blackfish`s Exodus L/S fund down 6.73%, -20.60% YTD, Henderson Group issues profit warning, shares slump
- Opalesque Exclusive: Austria-based FTC Capital GmbH`s managed futures funds return 18% to 39% YTD
- Indices - Dow Jones Hedge Fund Indices: All strategies posted losses in September, Hedgegate Swiss FoHF Index down 2% in August, Barclay CTA Index gains 0.68% in September, 7.86% YTD, Markit LCDX fall 3.35 percentage points in biggest drop ever as banks, hedge funds sell assets
- M&A: Silvercrest A.M. acquires Boston`s Marathon Capital Group
- Banks battle for prime brokerage market share, `25% to 50% of HF assets could switch prime brokers this year`
- Credit Suisse/Tremont market insight: Impact of recent market events on the hedge fund industry
- Launch of the Hedge Fund Matrix: Ground-breaking project a step towards harmonised hedge fund practices
- Short Selling Regulations - Short-sale ban ends to poor reviews, The no-short club takes a beating: stocks protected by ban are among the biggest decliners, MFA commends SEC for lifting short selling ban, Clifford Chance: New short selling bans in Iceland and Norway
- Credit Crunch Update - Wall Street in sharpest fall since 1987 crash, US under pressure on cash injection plan, Comment: The U.S. Treasury, the world`s biggest hedge fund, MUFG: no plans to pull out of $9bln investment in Morgan Stanley, Citi hands Wells Fargo victory in fight for Wachovia, AIG increases borrowings to another $9bln while racing to sell assets, Lehman failure may spark record payout for credit swap sellers
- Opinions - Former FDIC chair blames SEC for credit crunch, EIM`s Busson: short ban, Lehman collapse made crisis worse, Roubini: World needs 1.5 point rate cut to avert disaster
- Europe - Update: UK and Iceland clash on crisis, UK bank bail-out: what does it really change?, UK lenders seek capital to stay private, Iceland closes stock exchange until Monday, Wealthy Swiss clients caught up in Icelandic meltdown, Ireland deposit guarantee extended to overseas banks, Swiss would save UBS or Credit Suisse from collapse, economics minister says, Dexia gains Belgian bank guarantee, G7 meeting: France will not follow UK proposal to provide medium-term guarantees for interbank lending
- Opalesque Exclusive: Absolut report: German-speaking market is largest asset-pool in Europe, highest growth potential in alternative asset classes
- Asia - Panic strangles Asia stocks but yen firm, Hiring has come to a standstill in Asia`s asset management industry, SZTIC to launch new hedge fund products in tough market, Chinese QDII fund manager adopts FOF to control risk, Overseas hedge fund to invest Chinese company, China`s struggle for a voice in commodities market reflects urgent need for local HF talents, Japanese insurer Yamato Life files for bankruptcy, citing alternative investments
- Merrill Lynch: Emerging markets in maximum danger, have suffered $30bln in outflows in recent weeks
- Legal - Ex-Enron official and Trident HF manager Shankman sued by Gallery over art
- Opalesque Exclusive: London currency risk manager Cambridge Strategy makes 3 new hires, while strategies make positive returns
- People - Jupiter A.M. appoints new hedge fund business development director, Samena Capital expands team with five investment professionals, JO Hambro appoints Gavin Rochussen as new CEO, SSgA to shut down fundamental equity team
- Institutions - Pension funds favour `plain vanilla` in commodities, shift away from complex derivatives, Credit crisis sparks pension buyout slump
- Commodities - Oil slides as Opec calls emergency meeting, Read Opalesque`s Commodities Briefings, the free daily commodities publication
- Environmental Investing - Green fund sales dive over credit crunch concerns
- BCM launches CTA database for managed futures investors
- Real Estate - Eurex to launch real estate derivatives as first European exchange, Read Opalesque`s Real Estate Briefing, the new free daily Real Estate publication
- Opalesque Exclusive: Altesque Events presents 2008 Hedge Fund Insider`s Update, NYC, November 10th
- Awards - SAIMA 2008 - Complete shortlists unveiled, Nuveen Investments president Mark Anson honored for hedge fund research
- News Briefs - Lakshmi Mittal loses half his GBP40bln fortune, G7 faces huge pressure to revive global financial system, Australia, New Zealand dollars post biggest drops in 25 years
- ...And finally - Ka-Boom: Angry about economy? Smash some plates and move on, Some Wall Street jokes
- 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….
euphonious yoo-FOH-nee-uhs, adjective:
Pleasing or sweet in sound; smooth-sounding.
The following are a few Wall Street jokes to keep us all entertained during these trying times.
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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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