Main News

 

 

UP AND DOWN WALL STREET DAILY  By RANDALL W. FORSYTH
London's Calling, but the Fed Doesn't Hear
The OECD sees the impact of the subprime meltdown as Libor continues to rise.
http://online.barrons.com/article/SB118902781739618525.html?mod=djemBF

 

NEW YORK (HedgeWorld.com) - A majority of investors said they consider 130/30 strategies to be a new investment paradigm with long-term potential, as opposed to a passing trend.

 

Japan: Prelude to an Economic Crash
http://www.stratfor.com/products/premium/read_article.php?id=295107

 

Y2K Finance Hedge Fund Halts Redemptions and Sales (Update3)
Bloomberg.com Tue, 11 Sep 2007 9:49 AM PDT
Sept. 11 (Bloomberg) -- Y2K Finance Inc., the flagship hedge fund of Wharton Asset Management, will halt redemptions until at least December because of credit market turmoil.

 

Hedge fund data
Financial Times Tue, 11 Sep 2007 1:53 PM PDT
How was your summer? Depending on which source you believe, investors in funds of hedge funds (FoFs) either kept the faith or ran screaming.

 

UP AND DOWN WALL STREET DAILY  By RANDALL W. FORSYTH
Another Legacy of 9/11: the Credit Boom and Bust
The aggressive interest-rate cuts following the 9/11 helped inflate the now-burst credit bubble.
http://online.barrons.com/article/SB118947716844023448.html?mod=djemBF

 

INVESTORS' SOAPBOX PM
Recession May Begin Within 12 Months
Friedman Billings Ramsey sees the probability of a recession at roughly 60%.
http://online.barrons.com/article/SB118952430492123871.html?mod=djemBF

 

 

A rising chorus of banks, retailers and economists see the housing recession as a maelstrom that could hammer a stumbling economy until 2009.  Washington Mutual's chief Kerry Killinger yesterday struck the first chord about the "perfect storm"...
full story: http://www.nypost.com/seven/09112007/business/perfect_storm_on_radar_for_eco.htm

 

Regional banks may be exposed to the same kinds of credit-market issues that are causing headaches for the world's largest financial institutions.
http://online.wsj.com/article/0,,heard_on_the_street,00.html?mod=djemheard

 

India: The Hunt for an Indian Submarine-Launched Ballistic
Missile
http://www.stratfor.com/products/premium/read_article.php?id=295184

 

JPMorgan, Och-Ziff See Hedge Fund Assets Soar
Source: FINalternatives
Buoyed by explosive asset growth at Highbridge Capital Management, JPMorgan Asset Management has solidified its position as the largest hedge fund manager in the world. More... <http://www.hedgefund-index.com/newstoday.asp>

 

S&P releases new fund of hedge funds directory
Source: MoneyMarketing
Standard & Poor's fund services has announced the release of its fourth annual fund of hedge funds directory.

 

KKR Buyouts to Test the Stretched Credit Market
KKR has taken the private-equity acquisitions boom to extremes. But as its biggest deal yet awaits financing, the fortunes of more than the firm are at stake.
(By David Cho and Thomas Heath, The Washington Post)

 

The Short View: Correlations and corrections -- [at FT Investor]
By John Authers, MarketWatch
9/10/2007 1:55:49 PM

 

Special Report: How to buy ... hedge funds
By Alistair Barr MarketWatch
9/11/2007 12:01:00 AM

 

It's kind of interesting that everyone is focused on cap and trade legislation and market design issues. There is another "dog in this fight." Carbon is rising as a liability issue. While I have argued that carbon risk management is a fiduciary responsibility for both energy and agricultural companies, I think what has been missed is that there are externalities to burning coal as well as other fossil fuels.

Full Story...

 

The Subprime Mortgage Role Will be Played by the Pig
Conde Nast Portfolio - New York,NY,USA
This is what happened in the subprime crisis as Rep. Ackerman sees it: "Essentially, the originators and credit raters shoved enough pigs and laying hens in ...
See all stories on this topic

 

The R-word surfaces on Wall Street -- [at FT.com]
By Eoin Callan in Washington FT.com
9/9/2007 9:55:43 PM

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Yield Curve Corner

 

TREASURIES-Take breather in Asia after post-payrolls rally
Reuters - USA
Investors were treading cautiously ahead of remarks later on Tuesday by Federal Reserve Chairman Ben Bernanke, who is due to speak in Berlin about global ...
See all stories on this topic

 

Volatile Monday Ahead of OPEC Meeting and Bernanke Speech Tuesday
Forbes - NY,USA
Federal Reserve Chairman Ben Bernanke is due to speak Tuesday at a conference in Berlin, and nervous investors will once again dissect his comments looking ...
See all stories on this topic

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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/TRCgabrielle253_G12.jpg

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Iranian Situation

 

UN nuclear chief walks out on EU speech on Iran: diplomats
AFP via Yahoo! News Tue, 11 Sep 2007 12:26 PM PDT
UN nuclear chief Mohamed ElBaradei walked out on an afternoon session Tuesday of his IAEA to protest an EU speech which did not fully support his deal for new inspections in Iran, diplomats told AFP.

 

Freed Iranian-American scholar recounts ordeal in Iran
International Herald Tribune Tue, 11 Sep 2007 12:06 PM PDT
Haleh Esfandiari describes her confusion at being imprisoned, the mental and physical discipline she used to focus herself, and her continuing desire to start a dialogue between America and Iran.

 

American expects release from Iran
CNN.com Tue, 11 Sep 2007 9:02 AM PDT
TEHRAN, Iran (AP) -- An Iranian-American consultant detained for months in Tehran's Evin prison told reporters visiting the facility Tuesday that he expects to be released soon, a possibility confirmed by a spokesman for Iran's judiciary.

 

Iran considers knocking three zeros off currency
AFP via Yahoo! News Tue, 11 Sep 2007 7:44 AM PDT
Iran is examining a proposal to knock three zeros off its national currency to increase economic confidence and reduce the number of banknotes, the central bank governor said on Tuesday.

 

IRAN:  Mohammad Ali Jaafari, the new head of Iran's Islamic
Revolutionary Guards Corps (IRGC), cautioned the United States that
the IRGC has "identified all the weak points of the enemy in Iraq
and Afghanistan" and will respond to any U.S. attack, Agence
France-Presse reported, citing Iranian state media. Iranian Supreme
Leader Ayatollah Ali Khamenei appointed Jaafari to the position
Sept. 1.

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Opalesque’s Corner

 

- HFR: Hedge funds lost 1.31% in August, emerging markets, high yield, macro post declines, inflows up $16.8 billion in July,  Hedgefund.net: Hedge funds down -1.26%, Tudor, Caxton, Moore, Biggs posted losses in August turmoil
- Highbridge Capital assets up $20bn in H1
- Bahamas-based British billionaire Joseph Lewis builds 7% Bear Stearns stake, Investors not too impressed, Lewis may not be able to provide what Bear needs
- Barclays to throw lifeline to a third structured investment vehicle it arranged
- Comment: Far from the greatest credit correction of all time, 2007 credit wildfire will aid evolution of the markets,  tactical rebound in equity and credit assets can be expected before year end
- How to gain control of your market fear
- History Lesson: The Hunt for Black October (1987): Seven of the best explanations what it was  that caused the worst one-day decline in U.S. history
- Opalesque Exclusive: Hedge fund Rising Stars revisited - Ewe Eberle on Man`s new green funds and intensifying of R&D
- Opalesque Exclusive: MBS specialist firm launches credit fund to capitalize on liquidity problems in mortgage market, Arrow Hedge Partners launches two new hedge funds,  Full Cycle makes energy hedge fund offering,  Rathbone fund to include hedge funds, alternatives
- GLG`s hedge-fund growth will target U.S., Middle East
- Knight`s Deephaven performing `reasonably well`, markets `overreacted`
- Weather investments provide a sunny summer: Robust market puts alternative vehicles atop, but has its peculiarities
- Hedge fund bonuses to rise between 1% and 9%, `substantially lower` than predicted before credit crunch
- CALPERS reclassifies, assets, forms inflation-linked class including $2.5bln pilot infrastructure program, UK`s Universities Superannuation Scheme boosts alternative assets team, `just the start`
- Opalesque Exclusive: Templar hires Giulio Faccioni, Aspect Capital adds Chris Stuart,  Credit Suisse hires Yoji Koga to head prime brokerage in Japan
- Swiss hedge fund finances series of up to 6 movies, shootings start
- Multi family-office Iskander employs Riskdata hedge fund investing solution, White Paper on causes and ramifications of U.S. market fragmentation
- Ex-Merc chairman Rosenberg exits from Lake Shore, Sentinel founder steps in again to aid son in troubled time, creditor committee formed,  Sentinel keeps lawyers busy, conflicts of interests?, Biovail drops claims against BofA in lawsuit, Biovail plans to pursue lawsuit against hedge funds
- OECD warns against biofuels subsidies, Fusaro:  Carbon is rising as a liability issue
- Diamond Exchange could alter industry, current $120bln revenues `nothing compared with its potential`, LSE chief prefers Qatar for Nasdaq`s 31% stake, Dubai suffers new blow in bid for OMX
- Bermuda fund administrator opens European subsidiary in Ireland, to hire 40
- Swiss banking commission wants to lure hedge funds, recommends easing tax rules
- P-Solve first hedge FoF on Nucleus UK IFA platform
- The early days of an African renaissance?  How to tackle the 53-nation continent
- Russia emerging as haven from subprime nine years after default:  Turnaround as `all problems emanate of developed world`
- Japan FSA urges Finance Ministry to amend legislation to tax-exempt hedge fund investors
- Activist News: The Hermes lesson: There is a way for activist investing in Japan, Pirate Capital puts up 2 nominees for Angelica board
- News Briefs: Bush to nominate Lukken CFTC chairman, Hedge fund lawyer Timothy M. Clark moves from Dechert to Proskauer Rose as partner, ETF investing in muni bonds debuts, Integrated Asset Management acquires remaining 49.9% of Attica Holdings, HK SFC reworks tests after hedge-fund complaints,Number of Japanese IPOs decline during H1
- ...And finally: London?s Harrods hires cobra to guard $120,000 shoes (nice pic)
- Logon: http://www.opalesque.com/main.php?act=archive

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Misc. Items of Interest

 

 

Hedge-fund manager bonuses hit by credit crunch: survey
By John Spence MarketWatch
9/10/2007 12:14:00 PM

 

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Funnies, Facts, Quotes, etc….

 

plangent PLAN-juhnt, adjective:

1. Beating with a loud or deep sound, as, "the plangent wave."
2. Expressing sadness; plaintive.

 

'Merle Hazard' sings the hedge-fund blues
USA Today Sun, 09 Sep 2007 10:46 PM PDT
Nashville singer Merle Hazard knows a thing or two about loss financial loss, that is. Hazard, a down-home country crooner an "alter ego" of a Music City investment guru with an aptitude for price-earnings ratios, put options and financial leverage is using the power of music and parody to tell a now-familiar modern tale of American tragedy: a risk-lovin' hedge fund manager who watches his ...

 

1973:  General Augusto Pinochet led a coup d'état, overthrowing the government of President Salvador Allende of Chile.

1944:  Winston Churchill and Franklin D. Roosevelt met in Canada at the second Quebec Conference.

1855:  The 11-month Siege of Sevastopol ended after British and French troops finally captured the main naval base of the Russian Black Sea fleet during the Crimean War.

1814:  U.S. naval forces under Thomas Macdonough defeated a larger British force at the Battle of Lake Champlain during the War of 1812.

1777:  British forces defeated the Americans at the Battle of the Brandywine during the American Revolution.

1709:  The duke of Marlborough led a British army of 100,000 men against a French army of 90,000 at the Battle of Malplaquet in the War of the Spanish Succession.

1697:  Austrian forces won a decisive victory over an Ottoman army at the Battle of Zenta.

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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.