Archive: 08/02/2007
Main News
A HOOK CATCHES C-BASS: http://www.nypost.com/seven/08012007/business/a_hook_catches_c_bass_business_roddy_boyd.htm
By RODDY BOYD
A well-known New York bond manager is teetering on the brink of collapse, which could be bad news for the two mortgage insurance companies backing it. Credit Based Asset Servicing and Securitization, better known as C-Bass on Wall Street, announced that $260 million worth of margin calls...
By RODDY BOYD
A well-known New York bond manager is teetering on the brink of collapse, which could be bad news for the two mortgage insurance companies backing it. Credit Based Asset Servicing and Securitization, better known as C-Bass on Wall Street, announced that $260 million worth of margin calls...
HARVARD FAILS HEDGE FUNDS 101, LOSES $250M: http://www.nypost.com/seven/08012007/business/harvard_fails_hedge_funds_101__loses_250m_business_roddy_boyd.htm
By RODDY BOYD
Highly levered bets, poor hedges and a panicky bond market conspired to teach the managers of Harvard University's massive endowment fund a hard lesson about investing in hedge funds that they won't soon forget. The sudden collapse of Sowood Capital Management has whittled down the...
By RODDY BOYD
Highly levered bets, poor hedges and a panicky bond market conspired to teach the managers of Harvard University's massive endowment fund a hard lesson about investing in hedge funds that they won't soon forget. The sudden collapse of Sowood Capital Management has whittled down the...
Subprime - Where Are The Winners?
FT Alphaville - Wednesday August 01, 07:36 BST
FT Alphaville - Wednesday August 01, 07:36 BST
Bonds hit by credit market dip -- [at FT Investor]
By Saskia Scholtes and Michael Mackenzie MarketWatch
7/29/2007 12:30:44 PM
By Saskia Scholtes and Michael Mackenzie MarketWatch
7/29/2007 12:30:44 PM
Denmark, UK vulnerable to house prices fall -- [at FT.com]
By Robin Harding in London FT.com
7/29/2007 4:05:51 PM
By Robin Harding in London FT.com
7/29/2007 4:05:51 PM
Subprime fallout hits Australia
CNNMoney.com - USA
The US subprime mortgage crisis emerged as a slump in the US housing market led to a rise in mortgage defaults, a wave of credit downgrades and a mass ...
See all stories on this topic
CNNMoney.com - USAThe US subprime mortgage crisis emerged as a slump in the US housing market led to a rise in mortgage defaults, a wave of credit downgrades and a mass ...
CNNMoney.com - USA
The US subprime mortgage crisis emerged as a slump in the US housing market led to a rise in mortgage defaults, a wave of credit downgrades and a mass ...
See all stories on this topic
Credit derivatives stage strong recovery -- [at FT Investor]
By Stacy-Marie Ishmael MarketWatch
7/31/2007 2:40:22 PM
-- [at FT Investor] By Stacy-Marie Ishmael MarketWatch 7/31/2007 2:40:22 PM
By Stacy-Marie Ishmael MarketWatch
7/31/2007 2:40:22 PM
Fitch Ratings Affirms $807MM from Wells Fargo 2006-3
By BusinessWire
8/1/2007 10:52:17 AM
Fitch Ratings Affirms $539MM from GSAMP 2006-HE6
By BusinessWire
8/1/2007 10:54:17 AM
Fitch Affirms $6.2B & Downgrades $1.2B from 11 SABR Subprime Deals
By BusinessWire
8/1/2007 10:57:17 AM
Fitch Affirms $20B & Downgrades $2.4B of U.S. Subprime RMBS; New 2005-2006 Surveillance Criteria
By BusinessWire
8/1/2007 10:57:17 AM
Fitch Affirms $3.28B & Downgrades $395.1MM From 5 CSFB HEAT Subprime Deals
By BusinessWire
8/1/2007 11:08:17 AM
By BusinessWire
8/1/2007 10:52:17 AM
Fitch Ratings Affirms $539MM from GSAMP 2006-HE6
By BusinessWire
8/1/2007 10:54:17 AM
Fitch Affirms $6.2B & Downgrades $1.2B from 11 SABR Subprime Deals
By BusinessWire
8/1/2007 10:57:17 AM
Fitch Affirms $20B & Downgrades $2.4B of U.S. Subprime RMBS; New 2005-2006 Surveillance Criteria
By BusinessWire
8/1/2007 10:57:17 AM
Fitch Affirms $3.28B & Downgrades $395.1MM From 5 CSFB HEAT Subprime Deals
By BusinessWire
8/1/2007 11:08:17 AM
Beazer Homes rebuts backruptcy rumors after stock plunge
By John Spence MarketWatch
8/1/2007 1:20:00 PM
By John Spence MarketWatch
8/1/2007 1:20:00 PM
This Time, Bill to Raise Yuan Might Pass
It has become a Capitol Hill ritual: A few senators, always including the New York Democrat Charles E. Schumer, introduce a bill to punish China if its leaders do not raise the value of the nation's currency. Photos are taken, news releases are issued, but nothing really happens.
(By Peter S. Goodman, The Washington Post)
It has become a Capitol Hill ritual: A few senators, always including the New York Democrat Charles E. Schumer, introduce a bill to punish China if its leaders do not raise the value of the nation's currency. Photos are taken, news releases are issued, but nothing really happens.
(By Peter S. Goodman, The Washington Post)
US – The Securities and Exchange Commission (SEC) has reportedly called for an end to further regulations on hedge funds.
Bond insurers hammered by subprime woes
Shares of MBIA and Ambac, the two top players in the obscure but lucrative business of bond insurance, have taken a beating.
... READ FULL STORY >>>
Shares of MBIA and Ambac, the two top players in the obscure but lucrative business of bond insurance, have taken a beating.
... READ FULL STORY >>>
WASHINGTON (HedgeWorld.com)—A Canadian newspaper reported Friday [July 27] that Brian Hunter, the former Amaranth Advisors trader who has since become the principal of Solengo Capital, never returned from a lunch break during a meeting earlier this year with officials from the Federal Energy Regulatory Commission. ......
Dr Doom: The Hindenburg Omen and What's Next
FT Alphaville - Wednesday August 01, 08:30
FT Alphaville - Wednesday August 01, 08:30
Jeremy Grantham: Run For Your Lives!
Dealbreaker.com - Wednesday August 01, 07:59 BST
Dealbreaker.com - Wednesday August 01, 07:59 BST
Tuesday , 31 Jul 2007
An inside look at China's price tactics for potash parallels China's buying strategy for iron-ore, and forecasts further price growth.
An inside look at China's price tactics for potash parallels China's buying strategy for iron-ore, and forecasts further price growth.
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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/TRCusagi213_GJ.jpg
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Iranian Situation
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Iran executes nine more criminals BBC News Wed, 01 Aug 2007 9:34 AM PDT Iran hangs at least nine men convicted for rape, kidnapping and armed robbery, state media reports. |
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Iran-U.S. artifact wrangling deepens UPI Wed, 01 Aug 2007 10:25 AM PDT A Chicago judge ordered Iran to have an expert testify under oath in the legal wrangling over ownership of ancient Persian clay tablets. |
IRAN/RUSSIA: Iranian Defense Minister Brig. Gen. Mostafa Mohammad
Najjar dismissed reports that Iran had purchased 250 fighter jets
from Russia. He said the rumor is part of a psychological operation
by Israeli media to overshadow U.S. arms deals with Israel. Najjar
said U.S. military aid to countries in the region is not concerning
to Iran, and that the boost to Muslim countries' arms power serves
the interests of the world of Islam.
Najjar dismissed reports that Iran had purchased 250 fighter jets
from Russia. He said the rumor is part of a psychological operation
by Israeli media to overshadow U.S. arms deals with Israel. Najjar
said U.S. military aid to countries in the region is not concerning
to Iran, and that the boost to Muslim countries' arms power serves
the interests of the world of Islam.
US – The House of Representatives has snubbed opposition from the Bush administration by passing two bills enabling pension plans and mutual funds to voice their opposition to the Iranian and Sudanese governments.
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Avian Flu
Avian influenza (Epidemic and Pandemic Alert and Response (EPR))
Avian influenza (Western Pacific Region)
Influenza and avian influenza (European Region)
Avian influenza (Western Pacific Region)
Influenza and avian influenza (European Region)
Avian influenza (Fact Sheet)
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Plansponsor.com
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Opalesque’s Corner
- Morgan Stanley announces IPO of MSCI
- PSource fund IPO raises GBP30m for London listed fund in tough market
- Third Bear Stearns hedge fund hit by losses: ABS fund suspends redemptions, expects losses for July but won`t be shut, Although not leveraged, fund hit by combination of markdowns on broad range of mortgages and refund requests, Bear fund was up 5.25% until May but has not reported yet on June, July, Sub-prime spreads to France as fund manager shuts three funds, Macquarie says two of its high-yield funds may lose 25%, ear Stearns, hurt by subprime, says to expand big time overseas next 5 years, Bear, Lehman, Merrill trade as junk, derivatives show
- Comprehensive analysis of the subprime mortgage default crisis, KBC says sell-off overdone in equity markets
- Citadel loves a company in misery: `Where there`s trouble in the markets these days, there`s usually Kenneth Griffin`, Credit markets rebound as confidence surges on GMAC, Citadel, Harvard`s $350m loss shows investment risk of endowments, Hedge FoF Aetos may have suffered losses in Sowood
- Grantham says `half of hedge funds`, LBO funds to collapse in 5 years, Most hedge funds are not keeling over yet, HFR: Only handful funds suspected to have poor performance from subprime mortgage exposure, For every winner, there are many losers: Higland Capital special opportunities fund down 17.5% in June
- Sub-prime angst hits Financial Sector and High Yield Bond Funds hard: emerging markets equity funds retain momentum, but most developed markets suffer outflows, Singapore hedge fund Asia Genesis shifts some holdings to cash, South Korean stocks tumble most in 3 years on renewed U.S. subprime concerns, Japanese bonds gain as losses at hedge funds spur purchases
- Banking jobs hit record high, subprime signaling turning point?
- Opalesque Exclusive: Hedge funds in Spain (part 1) - it is all starting now
- Norfolk launches currency hunt
- Okumus Capital celebrates its tenth year anniversary
- Toronto`s Roundtable Capital launches offshore hedge fund
- Background article: Hedge funds pluck money from air in $19bln weather gamble as market is exploding
- Private equity will weather tax storm
- Opalesque Exclusive: Cox focuses on hedge funds` involvement in insider trading, adds warning `sovereign wealth funds are larger than all hedge funds combined and significantly less transparent`, SEC Chairman: No formal stance on SEC-CFTC merger, but Cox has a personal opinion, Senators press SEC chairman on risk of mortgage securities and hedge funds
- Interview: Investing in commodities from an institutional point of view, A mid-year look at commodities, Tin hits 18-year high, one firm cornering market with half of market share
- $500K CFTC fine for Merrill for repeated failure to file Annual Reports of commodity pools
- LSE gets backing from big hedge fund investor for borsa merger, MIFID: Getting ready for Europe`s new investor protection rules
- IAM CEO stepping aside in revamp
- Swedish global macro hedge fund closes its doors
- JPMorgan raids Fortis in building hedge fund services team In Asia
- UK scheme derivative usage trebles in 12 months, UK survey revewals separation of alpha and beta, increasing demand for high alpha mandates main themes
- News Briefs: Grief, Credit Suisse/Tremont Investable Index up 3.97% for 2Q 2007, Hedge fund administrator Spectrum with two senior hires, By 2010, India is expected to be world`s fourth largest energy consumer, Beijing raises bank reserve ratio to 12%, eight more increases expected
- ...And finally: Thou shalt now blast your neighbours: Spanish man gets two years jail for noisy music
- Logon: http://www.opalesque.com/main.php?act=archive
- PSource fund IPO raises GBP30m for London listed fund in tough market
- Third Bear Stearns hedge fund hit by losses: ABS fund suspends redemptions, expects losses for July but won`t be shut, Although not leveraged, fund hit by combination of markdowns on broad range of mortgages and refund requests, Bear fund was up 5.25% until May but has not reported yet on June, July, Sub-prime spreads to France as fund manager shuts three funds, Macquarie says two of its high-yield funds may lose 25%, ear Stearns, hurt by subprime, says to expand big time overseas next 5 years, Bear, Lehman, Merrill trade as junk, derivatives show
- Comprehensive analysis of the subprime mortgage default crisis, KBC says sell-off overdone in equity markets
- Citadel loves a company in misery: `Where there`s trouble in the markets these days, there`s usually Kenneth Griffin`, Credit markets rebound as confidence surges on GMAC, Citadel, Harvard`s $350m loss shows investment risk of endowments, Hedge FoF Aetos may have suffered losses in Sowood
- Grantham says `half of hedge funds`, LBO funds to collapse in 5 years, Most hedge funds are not keeling over yet, HFR: Only handful funds suspected to have poor performance from subprime mortgage exposure, For every winner, there are many losers: Higland Capital special opportunities fund down 17.5% in June
- Sub-prime angst hits Financial Sector and High Yield Bond Funds hard: emerging markets equity funds retain momentum, but most developed markets suffer outflows, Singapore hedge fund Asia Genesis shifts some holdings to cash, South Korean stocks tumble most in 3 years on renewed U.S. subprime concerns, Japanese bonds gain as losses at hedge funds spur purchases
- Banking jobs hit record high, subprime signaling turning point?
- Opalesque Exclusive: Hedge funds in Spain (part 1) - it is all starting now
- Norfolk launches currency hunt
- Okumus Capital celebrates its tenth year anniversary
- Toronto`s Roundtable Capital launches offshore hedge fund
- Background article: Hedge funds pluck money from air in $19bln weather gamble as market is exploding
- Private equity will weather tax storm
- Opalesque Exclusive: Cox focuses on hedge funds` involvement in insider trading, adds warning `sovereign wealth funds are larger than all hedge funds combined and significantly less transparent`, SEC Chairman: No formal stance on SEC-CFTC merger, but Cox has a personal opinion, Senators press SEC chairman on risk of mortgage securities and hedge funds
- Interview: Investing in commodities from an institutional point of view, A mid-year look at commodities, Tin hits 18-year high, one firm cornering market with half of market share
- $500K CFTC fine for Merrill for repeated failure to file Annual Reports of commodity pools
- LSE gets backing from big hedge fund investor for borsa merger, MIFID: Getting ready for Europe`s new investor protection rules
- IAM CEO stepping aside in revamp
- Swedish global macro hedge fund closes its doors
- JPMorgan raids Fortis in building hedge fund services team In Asia
- UK scheme derivative usage trebles in 12 months, UK survey revewals separation of alpha and beta, increasing demand for high alpha mandates main themes
- News Briefs: Grief, Credit Suisse/Tremont Investable Index up 3.97% for 2Q 2007, Hedge fund administrator Spectrum with two senior hires, By 2010, India is expected to be world`s fourth largest energy consumer, Beijing raises bank reserve ratio to 12%, eight more increases expected
- ...And finally: Thou shalt now blast your neighbours: Spanish man gets two years jail for noisy music
- Logon: http://www.opalesque.com/main.php?act=archive
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Misc. Items of Interest
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Funnies, Facts, Quotes, etc….
wayworn WAY-worn, adjective:
Wearied by traveling.
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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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