Archive: 10/03/2007
Main News
SOPHISTICATED INVESTOR Hedge funds are down but not out
MarketWatch - USA
Indeed, the only question about hedge funds these days is where they will take aim next. And smart money should follow. Global hedge fund assets soared ...
See all stories on this topic
MarketWatch - USA
Indeed, the only question about hedge funds these days is where they will take aim next. And smart money should follow. Global hedge fund assets soared ...
See all stories on this topic
HF transparency on G7 agenda
Mon, 01 Oct 2007, 10:02
Institutional Investor/Hedge Fund Daily
The Group of Seven industrialized nations will discuss hedge fund transparency when they meet next month in Washington, DC, a German Finance Ministry spokesman said Friday. Speaking at a news conference, Torsten Albig said: "There will be an intensive discussion on this subject in the entire G7 circle." He noted, however, that Germany—which currently holds the G7 presidency—would not make a concrete proposal on the matter, Reuters reported.
Mon, 01 Oct 2007, 10:02
Institutional Investor/Hedge Fund Daily
The Group of Seven industrialized nations will discuss hedge fund transparency when they meet next month in Washington, DC, a German Finance Ministry spokesman said Friday. Speaking at a news conference, Torsten Albig said: "There will be an intensive discussion on this subject in the entire G7 circle." He noted, however, that Germany—which currently holds the G7 presidency—would not make a concrete proposal on the matter, Reuters reported.
The Big Picture: Hungry for the ultimate hedge -- [at FT.com]
By Ruth Sullivan FT.com
10/1/2007 5:50:12 AM
By Ruth Sullivan FT.com
10/1/2007 5:50:12 AM
Manager focus: Desperately seeking redemption -- [at FT.com]
By Phil Davis FT.com
10/1/2007 6:00:21 AM
By Phil Davis FT.com
10/1/2007 6:00:21 AM
SEC risks seeming perverse about risk -- [at FT.com]
By David Wighton in New York FT.com
10/1/2007 7:40:11 AM
By David Wighton in New York FT.com
10/1/2007 7:40:11 AM
Hedge fund manager's sentence 'too lenient'
Boston Globe Tue, 02 Oct 2007 2:48 AM PDT
A federal appeals court in Boston yesterday overturned a sentence given to a hedge fund manager convicted of insider trading, agreeing with prosecutors that 36 months of probation was "unreasonably lenient."
Boston Globe Tue, 02 Oct 2007 2:48 AM PDT
A federal appeals court in Boston yesterday overturned a sentence given to a hedge fund manager convicted of insider trading, agreeing with prosecutors that 36 months of probation was "unreasonably lenient."
Fund float lifts Boussard & Gavaudan as turnover trebles
eFinancial News Tue, 02 Oct 2007 4:40 AM PDT
Boussard & Gavaudan, an Anglo-French hedge fund manager, almost trebled its turnover to £31m (€45m) in the year it became one of the first alternative asset managers to float a fund on a stock exchange.
eFinancial News Tue, 02 Oct 2007 4:40 AM PDT
Boussard & Gavaudan, an Anglo-French hedge fund manager, almost trebled its turnover to £31m (€45m) in the year it became one of the first alternative asset managers to float a fund on a stock exchange.
<http://www.hedgefund-index.com/d_structured.asp> Structured Products
Structured products are synthetic investment instruments specially created to meet specific needs that cannot be met from the standardized financial instruments available in the markets. Structured products can be used: as an alternative to a direct investment; as part of the asset allocation process to reduce risk exposure of a portfolio; or to utilize the current market trend.
Structured products are synthetic investment instruments specially created to meet specific needs that cannot be met from the standardized financial instruments available in the markets. Structured products can be used: as an alternative to a direct investment; as part of the asset allocation process to reduce risk exposure of a portfolio; or to utilize the current market trend.
Credit FAQ: Solid Enterprise Risk Management Practices: An Essential Ingredient To A Successful M&A Transaction
For years, research has shown that corporate performance after a merger or acquisition often fails to meet management's expectations. In fact, according to some studies, M&A transactions end up destroying shareholder value almost as often as creating it. Corporations, however, aren't defenseless as they try to grapple with the risks inherent in M&A. They can minimize the chances that a merger or acquisition will go awry by employing enterprise risk management practices, an approach to risk that encompasses the entire organization.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQWCSSQTVsLgHxhilpuHQJhuV2VS
For years, research has shown that corporate performance after a merger or acquisition often fails to meet management's expectations. In fact, according to some studies, M&A transactions end up destroying shareholder value almost as often as creating it. Corporations, however, aren't defenseless as they try to grapple with the risks inherent in M&A. They can minimize the chances that a merger or acquisition will go awry by employing enterprise risk management practices, an approach to risk that encompasses the entire organization.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc5?kHiQWCSSQTVsLgHxhilpuHQJhuV2VS
How M&G Played CDOs To Profit During The Crisis
Reuters - Tuesday October 02, 10:08 BST
Reuters - Tuesday October 02, 10:08 BST
Credit default swaps for the financial services sector dominated the most active trading in the US, led by Countrywide Home Loans, Lehman Brothers, Bear Stearns, SLM Corp and CIT Group, according to GFI.
The House Committee on Ways and Means last week unanimously approved H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007, in response to some of the tax issues that have arisen as a result of problems in the subprime mortgage market.
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Yield Curve Corner
September 2007 Rewind: Bernanke's Emotional Rescue
Seeking Alpha - New York,NY,USA
Once again, Ben Bernanke and the Federal Reserve came to to our "emotional rescue" with a surprise 50 bp reduction in the Federal Funds Rate. ...
See all stories on this topic
Seeking Alpha - New York,NY,USA
Once again, Ben Bernanke and the Federal Reserve came to to our "emotional rescue" with a surprise 50 bp reduction in the Federal Funds Rate. ...
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
Iran slashes oil transactions in dollars
AFP via Yahoo! News Tue, 02 Oct 2007 8:12 AM PDT
Iran has slashed the use of the dollar in payment for its oil exports to 15 percent, an official said on Tuesday, amid growing pressure from arch-foe the United States on its financial system.
AFP via Yahoo! News Tue, 02 Oct 2007 8:12 AM PDT
Iran has slashed the use of the dollar in payment for its oil exports to 15 percent, an official said on Tuesday, amid growing pressure from arch-foe the United States on its financial system.
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Opalesque’s Corner
- Perella Weinberg buys hedge-fund firm Xerion Capital, Xerion Founder Daniel J. Arbess joins Perella Weinberg Partners as partner, Credit crunch may stimulate more hedge fund M&A
- Hedge fund launches: Phil Duff, ex-Morgan Stanley, FrontPoint executive launches new fund, And from ex JPMorgan partner, Jonathan Katz, launches distressed debt fund, Pentwater hedge fund launches with $700 mln, headed by former Deephaven Capital trader Matthew Halbower, New Star launches property hedge fund with $50 mln, London & Capital Investment Advisors launches alternative strategies for US investors, Abbey launches global macro hedge fund of funds, Lone Pine duo set off on their own
- Dexion Absolute, world`s largest listed FoF targets GBP1bln with new share class
- Man Group says hedge fund industry growth rate to continue
- Kochis Fitz adds exposure to alternative investments
- Update: Cooper Hill, a long/short player in healthcare and biotech, closes down, `Wall Street Warrior` TV reality star Timothy Sykes closes hedge fund and releases startling new finance confessional
- Update: Global hedge fund assets up 19% (Europe 17%, Asia 13%) in H1 to $2.48trln (not including FoFs), 372 firms now in $1bln club, US dominates (246 from 372), Investors retain hedge fund allocations despite rocky performance
- Equities rally contradicts investor concerns, It makes sense for hedge funds to invest in bonds, as access to capital dries up
- Fed fails to restore credit market`s confidence, Pimco says, Talk of a return to normality in credit markets is premature, Two lessons from the 2007 liquidity squeeze
- Hedge-fund-like mutual funds disappointed this summer
- Credit Suisse and AlphaSimplex launch the industry's first 130/30 Index, HSBC launches Climate Change Investment indices
- DMX is top of the list of investable alternative investment indices listed in Vienna
- Portrait: Hugh Hendry, Electrica`s contrarian fund manager
- Monthly credit derivatives report unveils most active banking sectors
- Citigroup, UBS say subprime losses damage results, Jenkins`s unlucky 48 hours, Credit Suisse says profit may fall in Q3, Citigroup announces almost $6 bil of pretax losses, Alan Greenspan offers hope
- Northern Rock` shares fall amid concern of discounted sale, RAB raises stake in Northern Rock stake amid M&A talk, Artemis becomes second hedge fund to declare stake as shares hit new low, UK government will protect savers` money at Northern Rock
- Legal News: Primarius and Jayhawk battle over fraud charges, Update: Lake Shore`s chief and $750 million still missing, Lake Shore Asset dispute goes international, GTC Growth Fund`s hedge fund manager` sentence found too lenient
- Report: Growth in IPOs, hedge funds & PE help financial markets in Europe gain ground on US
- Japan breaks up post office to create giant $1.6trln bank
- `India is becoming a defensive play` now
- Chartered Alternative Investment Analyst Association (CAIAA) opens registration for March Level I and II examinations
- Commodities: A golden era for some commodity, rally may last 15 years says Jim Rogers, 58 funds established for carbon investments, $11.8bln entered carbon market from Oct 06 to Mar 07, Merrill starts biofuels indexes on alternative energy demand
- State Street receives top rankings in global custodian hedge fund administration survey for fourth consecutive year, M.A.T.share commended due to its ability to help FoFs to integrate portfolio data efficiently
- Activist News: Reddy Ice says lawsuit seeks to block proposed takeover by GSO Capital Partners, Centaurus behind break-up call at Corporate Express, Harbinger reports 5.7 pct stake in U.S. Steel, Pirate Capital calls for board rule change at Bink`s
- News Briefs: New book on the most successful hedge fund traders in the industry, Stanford endowment rises 23 percent, HF pros support N.Y.'s Habitat for Humanity, Students compete for Wall Street slots, London Stock Exchange completes takeover of Borsa Italiana, Strauss-Kahn named to lead IMF, pledges reforms, Women directors help boost the bottom line, Cerulli: Record growth for Asia fund industry, Odds still on Orange coalition revival, South Korean watchdog to review bank sale to HSBC
- . And Finally: Sheriff offers to marry two bank robbery suspects if they surrender
- Logon: http://www.opalesque.com/main.php?act=archive
- Hedge fund launches: Phil Duff, ex-Morgan Stanley, FrontPoint executive launches new fund, And from ex JPMorgan partner, Jonathan Katz, launches distressed debt fund, Pentwater hedge fund launches with $700 mln, headed by former Deephaven Capital trader Matthew Halbower, New Star launches property hedge fund with $50 mln, London & Capital Investment Advisors launches alternative strategies for US investors, Abbey launches global macro hedge fund of funds, Lone Pine duo set off on their own
- Dexion Absolute, world`s largest listed FoF targets GBP1bln with new share class
- Man Group says hedge fund industry growth rate to continue
- Kochis Fitz adds exposure to alternative investments
- Update: Cooper Hill, a long/short player in healthcare and biotech, closes down, `Wall Street Warrior` TV reality star Timothy Sykes closes hedge fund and releases startling new finance confessional
- Update: Global hedge fund assets up 19% (Europe 17%, Asia 13%) in H1 to $2.48trln (not including FoFs), 372 firms now in $1bln club, US dominates (246 from 372), Investors retain hedge fund allocations despite rocky performance
- Equities rally contradicts investor concerns, It makes sense for hedge funds to invest in bonds, as access to capital dries up
- Fed fails to restore credit market`s confidence, Pimco says, Talk of a return to normality in credit markets is premature, Two lessons from the 2007 liquidity squeeze
- Hedge-fund-like mutual funds disappointed this summer
- Credit Suisse and AlphaSimplex launch the industry's first 130/30 Index, HSBC launches Climate Change Investment indices
- DMX is top of the list of investable alternative investment indices listed in Vienna
- Portrait: Hugh Hendry, Electrica`s contrarian fund manager
- Monthly credit derivatives report unveils most active banking sectors
- Citigroup, UBS say subprime losses damage results, Jenkins`s unlucky 48 hours, Credit Suisse says profit may fall in Q3, Citigroup announces almost $6 bil of pretax losses, Alan Greenspan offers hope
- Northern Rock` shares fall amid concern of discounted sale, RAB raises stake in Northern Rock stake amid M&A talk, Artemis becomes second hedge fund to declare stake as shares hit new low, UK government will protect savers` money at Northern Rock
- Legal News: Primarius and Jayhawk battle over fraud charges, Update: Lake Shore`s chief and $750 million still missing, Lake Shore Asset dispute goes international, GTC Growth Fund`s hedge fund manager` sentence found too lenient
- Report: Growth in IPOs, hedge funds & PE help financial markets in Europe gain ground on US
- Japan breaks up post office to create giant $1.6trln bank
- `India is becoming a defensive play` now
- Chartered Alternative Investment Analyst Association (CAIAA) opens registration for March Level I and II examinations
- Commodities: A golden era for some commodity, rally may last 15 years says Jim Rogers, 58 funds established for carbon investments, $11.8bln entered carbon market from Oct 06 to Mar 07, Merrill starts biofuels indexes on alternative energy demand
- State Street receives top rankings in global custodian hedge fund administration survey for fourth consecutive year, M.A.T.share commended due to its ability to help FoFs to integrate portfolio data efficiently
- Activist News: Reddy Ice says lawsuit seeks to block proposed takeover by GSO Capital Partners, Centaurus behind break-up call at Corporate Express, Harbinger reports 5.7 pct stake in U.S. Steel, Pirate Capital calls for board rule change at Bink`s
- News Briefs: New book on the most successful hedge fund traders in the industry, Stanford endowment rises 23 percent, HF pros support N.Y.'s Habitat for Humanity, Students compete for Wall Street slots, London Stock Exchange completes takeover of Borsa Italiana, Strauss-Kahn named to lead IMF, pledges reforms, Women directors help boost the bottom line, Cerulli: Record growth for Asia fund industry, Odds still on Orange coalition revival, South Korean watchdog to review bank sale to HSBC
- . And Finally: Sheriff offers to marry two bank robbery suspects if they surrender
- Logon: http://www.opalesque.com/main.php?act=archive
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Misc. Items of Interest
NYC prepared for economic downturn
The city has enough resources to survive a potential recession, according to panelists at an economic roundtable hosted by The Economist.
... READ FULL STORY >>>
The city has enough resources to survive a potential recession, according to panelists at an economic roundtable hosted by The Economist.
... READ FULL STORY >>>
America's Most Stable Housing Markets
Matt Woolsey
In these 10 areas, home prices in the next year are expected to rise, and those with already robust sales should remain strong.
Matt Woolsey
In these 10 areas, home prices in the next year are expected to rise, and those with already robust sales should remain strong.
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Funnies, Facts, Quotes, etc….
supervene soo-pur-VEEN, intransitive verb:
1. To take place or occur as something additional, extraneous, or unexpected (sometimes followed by 'on' or 'upon').
2. To follow immediately after; to ensue.
2. To follow immediately after; to ensue.
1935: Ethiopian Emperor Haile Selassie ordered mobilization upon learning that Italian forces had crossed the frontier to begin the Italo-Ethiopian War.
1879: American poet Wallace Stevens, whose work explores the interaction of reality and what man can make of reality in his mind, was born in Reading, Pennsylvania.
1780: British army officer John André was executed by the Americans as a spy after conducting secret meetings with American General Benedict Arnold during the American Revolution.
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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
respective publishers, as referenced by header and appropriate hypertext links.
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