Main News

 

TCW Chief Investment Officer Jeffrey Gundlach Addresses Market Volatility
By BusinessWire
8/13/2007 5:36:07 PM

 

Postbank dips on exposure to IKB funds -- [at FT.com]
By Ivar Simensen in Frankfurt FT.com
8/13/2007 7:40:44 PM

 

Subprime Lender Seeks Protection From Creditors -- [at NY Times]
By BLOOMBERG NEWS New York Times
08/14/2007 01:32:54

 

 

Senate eyes hedge fund lending
InvestmentNews - New York,NY,USA
By Aaron Siegel After scrutinizing "carried interest," the Senate is now investigating another tax perk enjoyed by the hedge fund industry. ...
See all stories on this topic

 

The sound of 10000 shoes dropping -- one hedge fund at a time?
Blogging Stocks - USA
That's why we can expect the unexpected every day for the foreseeable future until every single hedge fund that's lost money for investors dribbles out its ...
See all stories on this topic

 

Tue, 14 Aug 2007, 08:39
Reuters

Swiss bank UBS (UBSN.VX) said its exposure to hedge funds through its prime brokerage operations was low and that it could act more proactively to take advantage of opportunities during turbulent markets. "We can use risk capacity more proactively when it comes to taking advantage of market opportunities. After the current disruption there will be opportunities," said new Chief Executive Marcel Rohner on Tuesday.

 

Hedge fund losses prompt exits as deadline looms
August 14, 2007 08:23 AM ET
BOSTON (Reuters) - For hedge funds, August 15 may be D-Day, when
investors rattled by heavy losses demand their money back from
big and small portfolios alike.
http://links.reuters.com/t/ES60C/LUZ0W/N9/TYJLW?a1=nl_usbusinessearly

How Did Buffett Do In The Bloodbath?
TheStreet.com - Tuesday August 14, 07:45 BST

 

The Quant Comedown: The Worst Is Over, Right?
Portfolio - Tuesday August 14, 07:32 BST

 

 

Meteorologists help forecast fund fortunes
Mon, 13 Aug 2007, 11:51
Institutional Investor
Everybody talks about the weather, but PCE Investors does something about - like generating sunny returns from it - thanks to its meteorologist Warwick Norton. According to Reuters, success has rained on the two weather-related hedge funds the London-based firm runs, the Cumulus Weather Fund and Cumulus Energy Fund because of forecasts that helped the firm predict how businesses may be affected for better or worse by meteorological changes. For example, Norton told his bosses that July was going to be very wet in the British isle and Ireland, and that would lower demanded for Magners cider, produced by Irish beverage company C&C. So, PCE shorted C&C's stock, and lo and behold share price sank 40% on C&C warnings of lower demands, and Cumulus pocketed a nice profit.

 

US - The California Public Employees' Retirement System (CalPERS) has thrown its weight behind twice the amount of shareholder proposals in the fiscal year 2006-7 than the previous one.

 

MIDDLE EAST - Standard and Poor’s (S&P) has launched three Shariah compliant indices covering the Pan Arab region as well as property companies in emerging and developed markets.

 

GLOBAL - The vast majority of pension funds have not invested in 130/30 (and similar) funds and have no plans to, found the results of the latest Global Pensions 100 Panel.

 

A stock-trading rule change that makes it easier for investors to bet on price declines may be a factor in market turmoil.
http://online.wsj.com/article/0,,heard_on_the_street,00.html?mod=djemheard

 

 

UK – Barclays Global Investors (BGI) has lost a £2bn global equity mandate from Barclays Bank UK Retirement Fund (BBUKRF) because it could not provide the fund with the appropriate service in selecting managers.

 

US investment bank Morgan Stanley is establishing a "carbon bank" aimed at clients that want to offset their emissions.
More on this story: http://www.finextra.com/fullstory.asp?id=17321

 

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Yield Curve Corner

 

How Bernanke's Plan Could Work, Pt. 2
The Street - New York,NY,USA
By Jim Cramer At that point, rates had finally started impacting the homebuilders and we began to see cracks. Defaults entered the system as speculators who ...
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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/TRCflossie226_G11.jpg

 

Crude rides new hurricane forecast higher

Commodity prices rebounded as financial markets rallied around the globe, supported by fresh liquidity injections into the banking system by central banks

 

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Iranian Situation

 

Iran's president 'doubts' arming Taliban
AP via Yahoo! News Tue, 14 Aug 2007 11:29 AM PDT
Iran's president said Tuesday he has "serious doubts" that his country is supplying weapons to Taliban insurgents in Afghanistan, refuting allegations by some Western officials that Iran is arming the militants.

 

Official: Belgians in Iran freed
CNN.com Tue, 14 Aug 2007 11:40 AM PDT
BRUSSELS, Belgium (Reuters) -- Two Belgians kidnapped in southeastern Iran at the weekend have been released, a Belgian Foreign Ministry spokesman in Brussels said on Tuesday.

 

IRAN/IRAQ:  Iranian and Iraqi officials met in Tehran to discuss
border issues for the first time since the Iran-Iraq war began in
1980, Iranian state television reported. The meeting between
Iranian Gen. Qassem Rezai, commander of Iranian border guards, and
Iraqi border guard chief Gen. Mohsen Abdolhassan Lazem focused on
damaged and displaced border posts and alcohol and weapons
smuggling across the Shatt al-Arab waterway. Lazem said he hoped
the border would be "reorganized soon."

 

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Opalesque’s Corner

 

- Goldman Sachs and various investors including C.V. Starr & Co., Perry Capital and Eli Broad Invest $3 Billion in Global Equity Opportunities Fund, Goldman CFO: `This is not a rescue, but an investment opportunity`, Comment: Why the CFO may be right, Goldman doubles up hedge fund`s assets, deleverages, but what will happen to the other two funds in trouble?,  Goldman Sachs says not to unwind two hedge funds, Comment: Goldman pays the price of being big, The 25-standard deviation moves, S&P reaffirms Goldman`s AA credit rating, but `concerned GSAM moral hazard risks go beyond what we assumed`
- Tewksbury lost about 10 percent between Jul. 1 and Aug. 10, Barclays quant fund seen reporting single-digit August lost, flat YTD, Three programs disappear from JWH line-up
- Opalesque Exclusive: Belgian quant fund another winner in July and August, Silver lining: Man CEO, hedge fund insiders buy own stock, CIBC loses C$190m on mortgage securities, Accredited sues Lone Star to complete acquisition deal,  DWS keeps ABS fund open as US sub-prime crisis ebbs
- Opalesque Exclusive:  Two managers reveal: What´s wrong with (other) quant funds, Did quants miss the boat on LBO boom?
- Back offices feeling the strain of credit crisis trading boom, Equity derivatives volumes double, Why the carry trade is dead: Calyon: Volatility caused by subprime mess here to stay, meaning end of carry trade, crisis could be good news for dollar,  Credit crisis offers prizes for scavengers
- Lampert hedge fund picks are off, money still flows,  Sears shares rise after company boosts stock buyback
- Opalesque Exclusive: Hedge fund Rising Stars revisited -  Jennifer Coffey`s  concentrated multi-strategy and pure activist FoFs
- Managed Futures down 0.59% in July, larger traders drop 1.70%
- IJPMorgan launches emerging market FoF with Redi & Partners, Iraq Fund Management LLC launched first hedge fund
- Opalesque Exclusive: Survey: Hedge fund margining - what are banks offering and what do hedge funds prefer?,  Report: Portfolio Margining, Risk and Liquidity - The US has been several years behind Europe in implementing portfolio margining</b><br>
- Opalesque Exclusive:  Credit Suisse to acquire majority interest of Hedging-Griffo
- One of Australia`s largest institutions puts `significant investment` into Henderson Multi-Strategy
- John McClenahan joins Torrey Associates  as Director of Risk Management,  Former OCC risk chief joins LJM Partners to lead broad risk management initiative
- UBS considers Dillon Read closed, but exposures remain, $314m trading losses
- U.S. lawmakers examine another tax perk enjoyed by hedge funds: Profits from lending money
- CalPERS forms pool for new emerging long-only FoF managers, CALPERS steps us activism, files double shareowner proposals as in previous year, Report calls CALPERS  `low-cost` fund because it uses less external active management
- Knight says Goldman takes stake in  Direct Edge ECN
- Acquisition propels Sextant Strategic Global Water Fund to lead in the sector, Do only London-based brokers get rich arranging emissions-cutting projects in developing countries? Japan trading firms search for more CO2 credits
- Laurus Capital Management to manage listed PSource Structured Debt fund
- Guggenheim Capital Markets to open office in Dubai
- Gulf pensions law promises a bonanza for fund managers
- SOKOL Russian Equit fund up 10% in July
- Special Report: India to celebrate 60 years of Independence - Understanding India
- Portrait:  RAS Capital Management, an India focused multi-strategy FoF
- Opalesque Exclusive: Asia Genesis to hard-close its Japan Macro Fund
- Portrait: New Japanese hedge fund bets on emerging domestic ecology boom
- Activist News: RBS-led group increases ABN stake, Opalesque Exclusive: Everest Capital says proposed merger leaves Norway company `significantly undervalued`
- News Briefs:  Dodd defends donations from hedge fund industry, Credit Suisse AM hires Yong-Moon Kim as managing director and head of global equities
- ...And finally:  `I`d yell out at them: I am not falling out of this tree for you bastards`: Aussie ranger survives a week on a tree surrounded by man eating crocs
- Logon: http://www.opalesque.com/main.php?act=archive

 

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Misc. Items of Interest

 

Best Ways To Build Muscle At Any Age
8.10.07, 12:01 AM ET - Allison Van Dusen
Losing muscle mass is a natural part of aging. Here's how to win some of it back.

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Funnies, Facts, Quotes, etc….

 

New Infinite Leverage Derivative Products Email Pokes Fun At ...
DealBreaker.Com - New York,NY,USA
... which you'll agree has no correlation with stodgy traditional investments and is a perfect fit for portable alpha scams, er, strategies. ...
See all stories on this topic

 

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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)

HFRX Indices https://www.hedgefundresearch.com/hfrx_reg/index.php?fuse=login&1170880431

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Regulatory Info

 

 

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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 respective publishers, as referenced by header and appropriate hypertext links.