Archive: 09/28/2007
Main News
Redemption effect to clobber hedge funds
FT Alphaville - London,UK
Fund-linked derivatives, which have been booming as investors pile cash into hedge funds, are likely to finish their quarterly reviews by the end of next ...
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FT Alphaville - London,UK
Fund-linked derivatives, which have been booming as investors pile cash into hedge funds, are likely to finish their quarterly reviews by the end of next ...
See all stories on this topic
Pension Managers Kick Hedge Funds While They're Down
Conde Nast Portfolio - New York,NY,USA
(You could find out answers to questions like this: Why do you agree to pay 2 percent of assets and 20 percent of profits to hedge fund managers who ...
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Conde Nast Portfolio - New York,NY,USA
(You could find out answers to questions like this: Why do you agree to pay 2 percent of assets and 20 percent of profits to hedge fund managers who ...
See all stories on this topic
Russian liquidity trouble starts to boil -- [at FT Investor]
By Catherine Belton MarketWatch
9/26/2007 5:40:49 PM
By Catherine Belton MarketWatch
9/26/2007 5:40:49 PM
Credit Suisse to cut 150 jobs
International Herald Tribune - France
... the latest global securities company to reduce its work force in response to the fallout from rising defaults in the US subprime mortgage market. ...
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International Herald Tribune - France
... the latest global securities company to reduce its work force in response to the fallout from rising defaults in the US subprime mortgage market. ...
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SEC steps up probes of hedge insider trading
Washington Post Wed, 26 Sep 2007 4:32 PM PDT
GREENWICH, Connecticut (Reuters) - The U.S. Securities and Exchange Commission is conducting more than 30 investigations into potential hedge fund manager misconduct in the northeast United States alone, with more in other parts of the country, officials said on Wednesday.
Washington Post Wed, 26 Sep 2007 4:32 PM PDT
GREENWICH, Connecticut (Reuters) - The U.S. Securities and Exchange Commission is conducting more than 30 investigations into potential hedge fund manager misconduct in the northeast United States alone, with more in other parts of the country, officials said on Wednesday.
Yale Fund Earns 28 Percent, Best Return Since 2000 (Update1)
Bloomberg.com Thu, 27 Sep 2007 1:35 PM PDT
Sept. 27 (Bloomberg) -- Yale University, the third-oldest U.S. college, generated its highest annual investment return in seven years, gaining 28 percent as global stock markets, hedge funds and buyout funds soared.
Bloomberg.com Thu, 27 Sep 2007 1:35 PM PDT
Sept. 27 (Bloomberg) -- Yale University, the third-oldest U.S. college, generated its highest annual investment return in seven years, gaining 28 percent as global stock markets, hedge funds and buyout funds soared.
GLG takes historical perspective
Source: Financial Times
GLG Partners has hired Niall Ferguson, the history professor, as a consultant to the $19bn (£9.5bn) London hedge fund as it spreads it net wider in the search for investment ideas. More... <http://www.hedgefund-index.com/newstoday.asp>
Source: Financial Times
GLG Partners has hired Niall Ferguson, the history professor, as a consultant to the $19bn (£9.5bn) London hedge fund as it spreads it net wider in the search for investment ideas. More... <http://www.hedgefund-index.com/newstoday.asp>
US - Teamsters Local 282 pension fund has filed a lawsuit against Moody’s claiming the credit rating agency misrepresented the risk involved in structured products backed by sub-prime mortgages. The union pension fund claimed Moody’s assigned excessively high ratings to these types of bonds which were subsequently lowered in July following market tremors.
US - The Alaska Permanent Fund Corporation (APFC) saw a 17% return on investments in the 2007 fiscal year
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Banks lose trading edge over hedge funds Wed, 26 Sep 2007, 23:12 Financial News MTS Group, the European government bond trading electronic market, ... www.hedgeweek.com/ - Similar pages - Note this |
LONDON (HedgeWorld.com)—The biggest hedge fund managers in the United Kingdom and United States are pushing ahead with reviews of industry standards and best practice in relation to valuation, disclosure and risk management. ......
NEW YORK (HedgeWorld.com)—Quantitative strategies had a rough time recently and may be declining as a percentage of hedge fund assets, but quant methods continue to fuel the growth of short-extension—or 130/30—funds. ......
Mindich suggests splitting US ratings agencies
Credit ratings agencies need to separate their rating and advisory functions because of conflicts of interest in their relationship with Wall Street, the newly appointed head of a high-level US government advisory panel has said. (Financial Times)
http://mail2.efnmail.co.uk/r/316970/MTk4MTI1OjE1MTky/
Credit ratings agencies need to separate their rating and advisory functions because of conflicts of interest in their relationship with Wall Street, the newly appointed head of a high-level US government advisory panel has said. (Financial Times)
http://mail2.efnmail.co.uk/r/316970/MTk4MTI1OjE1MTky/
At its 2007 Regional Member Conference in New York yesterday, the International Swaps and Derivatives Association (ISDA) announced the results of its Mid-Year 2007 Market Survey of privately negotiated derivatives.
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Yield Curve Corner
Bernanke says supply of educated workers in US is falling behind ...
Forbes - NY,USA
WASHINGTON (Thomson Financial) - Demand for highly educated workers has been rising fast in the US economy, Federal Reserve Chairman Ben Bernanke said today ...
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Forbes - NY,USA
WASHINGTON (Thomson Financial) - Demand for highly educated workers has been rising fast in the US economy, Federal Reserve Chairman Ben Bernanke said today ...
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:
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Iranian Situation
Oil surges on supply, Iran worries
AP via Yahoo! News Thu, 27 Sep 2007 12:11 PM PDT
Oil and other petroleum futures surged Thursday amid supply concerns sparked by a decline in crude inventories at a key Oklahoma terminal and the confrontation between the West and Iran.
AP via Yahoo! News Thu, 27 Sep 2007 12:11 PM PDT
Oil and other petroleum futures surged Thursday amid supply concerns sparked by a decline in crude inventories at a key Oklahoma terminal and the confrontation between the West and Iran.
France says Russia wants to delay Iran sanctions
Reuters via Yahoo! News Thu, 27 Sep 2007 9:34 AM PDT
Russia is unlikely to support new U.N. sanctions against Iran over its nuclear program until after the U.N. atomic watchdog's latest study of Iran's activities, which may not be completed until December, the French foreign minister said on Thursday.
Reuters via Yahoo! News Thu, 27 Sep 2007 9:34 AM PDT
Russia is unlikely to support new U.N. sanctions against Iran over its nuclear program until after the U.N. atomic watchdog's latest study of Iran's activities, which may not be completed until December, the French foreign minister said on Thursday.
Iran hangs three men in public for raping 12 women
Reuters via Yahoo! News Thu, 27 Sep 2007 4:47 AM PDT
Iran hanged three men in public on Thursday for raping and robbing twelve young women, most of them university students, Iranian media reported, in the latest of a series of executions in the Islamic Republic.
Reuters via Yahoo! News Thu, 27 Sep 2007 4:47 AM PDT
Iran hanged three men in public on Thursday for raping and robbing twelve young women, most of them university students, Iranian media reported, in the latest of a series of executions in the Islamic Republic.
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Opalesque’s Corner
- Opalesque Exclusive; Hedge Fund Replication & Alternative Beta conference, Day 2: Nassim Nicholas Taleb on factor models, fat tails and data mining, Deutsche Bank`s beta index, Barclays` systematic models in FX, Some investors intend using replicators for pro-active exposure management
- Opalesque Exclusive: Last Atlantis inks deal with former head currency trader at Tudor to launch new share class within Last Atlantis Partners fund, Fidelity unit Pyramis to launch L/S hedge funds, aims at $20bln, Vermillion plans to treble quant strategy, Northwest Global to launch levered currency strategy, Cooper Hill shuts three healthcare hedge funds
- Update: Basis Capital`s Yield Alpha fund lost 27% in June
- Yale ahead of the pack again with 28%
- Donald Putnam predicts break up of prime brokerage, ` disintermediated like Bell telephone`...
- Billions of withdrawals in fund-linked derivatives expected to hit hedge funds, Poll: Pension managers kick hedge funds while they`re down, PE to jump to top spot, 75% of investors (90% in Europe) say hedge-fund fee structure `not sustainable` over next five years, Pension funds favor Blackstone and Goldman, survey reveals pension fund managers will boost their alternatives investments by over 30%
- Energy Hedge Fund Center now tracking 600 energy and environmental hedge funds, Analysis: Best way to play water is through equities and dedicated indexes and ETFs, Morningstar enters commodity indexing in five unique flavors
- Einhorn sells New Century stake likely at substantial loss, remont drops as billionaire banker Gerald Ford exits, Northern Rock faces class action scrutiny, Northern Rock shares rise on takeover discussions, Goldman exec: Commercial mortgage market may be next shoe to drop, Cantor builds up mortgage-backed securities, Hedgehog Capital takes stake in Accredited Home
- SEC brings fraud charges against San Francisco hedge fund manager Alexander James Trabulse, Portus co-founders Boaz, Mendelson charged with fraud, money-laundering, Caxton manager sues top NY dealer to recover $4.6m lost in `Ponzi scheme`, Lawmakers critizise FERC in natural gas market manipulation dispute - is Amaranth right?, Mempis consulting firm CSG connected to Bayou, Surprise! More Bayou sentencing delays, Bear Stearns` director was preferred Sentinel shareholder, Long-time Sentinel investors redeemed, CFTC fines Beasley and Longboat Global Funds Management for fraud
- Rubin urges consideration of higher margin rules rather than directly regulating hedge funds, US ponders law changes to stop reinsurance companies and hedge funds to avoid taxes through offshore headquarters
- Credit agencies deny inflating ratings to beat rivals, Senate told, Comment: Investors would fare better if government stops giving status to debt-rating firms
- Fairfield Greenwich Group adds Maria Teresa Pulido as partner and head of global sales, NewMarket Capital Partners adds Brian W. Glanz as investment manager, Debra Sparks joins Capital Growth Advisors team, Broadreach expands - Hires Myriam Stephens into operations and accounting, hires veteran Myriam Stephens, erTrac expands in Asia, hires James Yip, GLG hires history professor
- Viteos unbundles middle office services from fund administration, facilitates additional custom-based services
- Credit derivatives climb to $45.46 trillion
- Nasdaq, Dubai raise OMX offer to gain shareholder nod, Dubai's Nasdaq offer a test for Paulson`s open investment policy
- EDHEC gives Sarkozy `French Answer` and insights on early lessons from subprime lending crisis, highlights regulation risk
- New ratings for Gottex funds MN Plus, Portable Alpha & Tiger by Schmidt Rating
- Russian liquidity trouble starts to boil, `Rouble bond market is not working`
- News Briefs: CBOE expands volatility products offering, MFA testifies at Senate Finance and House Agriculture Committees, AIMA expands regulatory team with new appointment, ETF gold holdings surpass reserves of Bank of Japan
- ...And finally: Gambler sues for $26m casino losses (no, not in the U.S...)
- Logon: http://www.opalesque.com/main.php?act=archive
- Opalesque Exclusive: Last Atlantis inks deal with former head currency trader at Tudor to launch new share class within Last Atlantis Partners fund, Fidelity unit Pyramis to launch L/S hedge funds, aims at $20bln, Vermillion plans to treble quant strategy, Northwest Global to launch levered currency strategy, Cooper Hill shuts three healthcare hedge funds
- Update: Basis Capital`s Yield Alpha fund lost 27% in June
- Yale ahead of the pack again with 28%
- Donald Putnam predicts break up of prime brokerage, ` disintermediated like Bell telephone`...
- Billions of withdrawals in fund-linked derivatives expected to hit hedge funds, Poll: Pension managers kick hedge funds while they`re down, PE to jump to top spot, 75% of investors (90% in Europe) say hedge-fund fee structure `not sustainable` over next five years, Pension funds favor Blackstone and Goldman, survey reveals pension fund managers will boost their alternatives investments by over 30%
- Energy Hedge Fund Center now tracking 600 energy and environmental hedge funds, Analysis: Best way to play water is through equities and dedicated indexes and ETFs, Morningstar enters commodity indexing in five unique flavors
- Einhorn sells New Century stake likely at substantial loss, remont drops as billionaire banker Gerald Ford exits, Northern Rock faces class action scrutiny, Northern Rock shares rise on takeover discussions, Goldman exec: Commercial mortgage market may be next shoe to drop, Cantor builds up mortgage-backed securities, Hedgehog Capital takes stake in Accredited Home
- SEC brings fraud charges against San Francisco hedge fund manager Alexander James Trabulse, Portus co-founders Boaz, Mendelson charged with fraud, money-laundering, Caxton manager sues top NY dealer to recover $4.6m lost in `Ponzi scheme`, Lawmakers critizise FERC in natural gas market manipulation dispute - is Amaranth right?, Mempis consulting firm CSG connected to Bayou, Surprise! More Bayou sentencing delays, Bear Stearns` director was preferred Sentinel shareholder, Long-time Sentinel investors redeemed, CFTC fines Beasley and Longboat Global Funds Management for fraud
- Rubin urges consideration of higher margin rules rather than directly regulating hedge funds, US ponders law changes to stop reinsurance companies and hedge funds to avoid taxes through offshore headquarters
- Credit agencies deny inflating ratings to beat rivals, Senate told, Comment: Investors would fare better if government stops giving status to debt-rating firms
- Fairfield Greenwich Group adds Maria Teresa Pulido as partner and head of global sales, NewMarket Capital Partners adds Brian W. Glanz as investment manager, Debra Sparks joins Capital Growth Advisors team, Broadreach expands - Hires Myriam Stephens into operations and accounting, hires veteran Myriam Stephens, erTrac expands in Asia, hires James Yip, GLG hires history professor
- Viteos unbundles middle office services from fund administration, facilitates additional custom-based services
- Credit derivatives climb to $45.46 trillion
- Nasdaq, Dubai raise OMX offer to gain shareholder nod, Dubai's Nasdaq offer a test for Paulson`s open investment policy
- EDHEC gives Sarkozy `French Answer` and insights on early lessons from subprime lending crisis, highlights regulation risk
- New ratings for Gottex funds MN Plus, Portable Alpha & Tiger by Schmidt Rating
- Russian liquidity trouble starts to boil, `Rouble bond market is not working`
- News Briefs: CBOE expands volatility products offering, MFA testifies at Senate Finance and House Agriculture Committees, AIMA expands regulatory team with new appointment, ETF gold holdings surpass reserves of Bank of Japan
- ...And finally: Gambler sues for $26m casino losses (no, not in the U.S...)
- Logon: http://www.opalesque.com/main.php?act=archive
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Misc. Items of Interest
America's Worst Airlines
9.26.07, 6:00 AM ET - Tom Van Riper and Robert Malone
Ten carriers that lead the skies in late arrivals, cancellations and lost luggage.
9.26.07, 6:00 AM ET - Tom Van Riper and Robert Malone
Ten carriers that lead the skies in late arrivals, cancellations and lost luggage.
Spies Prep Reporters on Protecting Secrets
BY JOSH GERSTEIN - Staff Reporter of the Sun
Frustrated by press leaks about its most sensitive electronic surveillance work, the secretive National Security Agency convened an unprecedented series of off-the-record "seminars" in recent years to teach reporters about the damage caused by such...
BY JOSH GERSTEIN - Staff Reporter of the Sun
Frustrated by press leaks about its most sensitive electronic surveillance work, the secretive National Security Agency convened an unprecedented series of off-the-record "seminars" in recent years to teach reporters about the damage caused by such...
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Funnies, Facts, Quotes, etc….
pronunciamento pro-nun-see-uh-MEN-toe, noun:
1. A proclamation or manifesto; a formal announcement or declaration.
2. A pronouncement.
2. A pronouncement.
1996: Taliban leaders seized the capital city of Kabul, declaring all of Afghanistan an Islamic state.
1964: Following months of investigation into the assassination of U.S. President John F. Kennedy, the Warren Commission released its findings.
1954: The landmark late-evening talk show and variety program The Tonight Show premiered (as Tonight!), with Steve Allen as host.
1918: British forces attacked the Hindenburg Line in the final offensive on the Western Front during World War I.
1601: Louis XIII, king of France from 1610 to 1643, was born.
1540: The Jesuit order, founded by St. Ignatius of Loyola, was approved by Pope Paul III.
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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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