Archive: 04/15/2008
Main News
What Warren thinks...
CNNMoney.com - USA
You create a CDO by taking one of the lower tranches of that one and 50 others like it. Now if you're going to understand that CDO, you've got 50-times-300 ...
CNNMoney.com - USA
You create a CDO by taking one of the lower tranches of that one and 50 others like it. Now if you're going to understand that CDO, you've got 50-times-300 ...
CDO update: this week’s liquidation calendar
FT Alphaville - London,UK
A reported $2.8bn of CDO collateral being liquidated by SMH Capital this week. From
FT Alphaville - London,UK
A reported $2.8bn of CDO collateral being liquidated by SMH Capital this week. From
April 4, 2008 - Markit announces that it is working with a group of dealers to create a new index referencing Municipal CDS. ...
www.markit.com/information/products/category/indices/cdx.html - 11k -
www.markit.com/information/products/category/indices/cdx.html - 11k -
Apr 10, 2008 ... By Dane Hamilton NEW YORK, April 10 (Reuters) - Platinum Grove Asset Management, the $5.8 billion hedge fund group headed by financial ...
www.reuters.com/article/fundsFundsNews/idUSN1033644420080410 - 86k -
www.reuters.com/article/fundsFundsNews/idUSN1033644420080410 - 86k -
Credit Crunch Hurts Hedge-Fund Stars
Wall Street Journal - USA
By JENNY STRASBURG David Tepper, founder of hedge-fund firm Appaloosa Management LP, saw a negative 17% return last quarter in two funds with more than $6 ...
Wall Street Journal - USA
By JENNY STRASBURG David Tepper, founder of hedge-fund firm Appaloosa Management LP, saw a negative 17% return last quarter in two funds with more than $6 ...
Financial Institutions
Fannie Mae's And Freddie Mac's Liquidity Role In The U.S. Mortgage Markets Faces Uncharted Waters
Fannie Mae and Freddie Mac's core public policy role as mortgage government-sponsored enterprises (GSEs) providing liquidity to the secondary mortgage markets has taken on a new dimension. The high degree of uncertainty in the broader economic and housing markets, and its negative effect on pricing mortgage credit and mortgage performance, will continue to weigh heavily on the GSEs' operating results. But the easing of the GSE capital requirements reinforces these institutions' key public policy roles and their implicit government support.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc6?kHiQACRYQTVsLgHxhilpuHQJhuV2VU
Fannie Mae's And Freddie Mac's Liquidity Role In The U.S. Mortgage Markets Faces Uncharted Waters
Fannie Mae and Freddie Mac's core public policy role as mortgage government-sponsored enterprises (GSEs) providing liquidity to the secondary mortgage markets has taken on a new dimension. The high degree of uncertainty in the broader economic and housing markets, and its negative effect on pricing mortgage credit and mortgage performance, will continue to weigh heavily on the GSEs' operating results. But the easing of the GSE capital requirements reinforces these institutions' key public policy roles and their implicit government support.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc6?kHiQACRYQTVsLgHxhilpuHQJhuV2VU
by Tom Brown
by Mark Wenzel
by Todd Kenyon
by Veryan Allen
Schroders CIO says hedge funds need more regulation
Financial Times - Monday April 14, 09:11 BST
Financial Times - Monday April 14, 09:11 BST
Hedge Funds Focus Their Largesse on Obama
Source: The New York Times
Hedge funds are betting that Senator Barack Obama will be the next president of the United States. Or at least they are hedging their bets in case he prevails, according to Pensions & Investments. More... <http://www.hedgefund-index.com/newstoday.asp>
Source: The New York Times
Hedge funds are betting that Senator Barack Obama will be the next president of the United States. Or at least they are hedging their bets in case he prevails, according to Pensions & Investments. More... <http://www.hedgefund-index.com/newstoday.asp>
Hedge Fund Chief Gets 20-Year Sentence
AP via Yahoo! Finance Mon, 14 Apr 2008 3:03 PM PDT
A federal judge on Monday sentenced former hedge-fund chief Samuel Israel III to 20 years in prison and for defrauding investors out of more than $450 million.
AP via Yahoo! Finance Mon, 14 Apr 2008 3:03 PM PDT
A federal judge on Monday sentenced former hedge-fund chief Samuel Israel III to 20 years in prison and for defrauding investors out of more than $450 million.
US President Financial Working Group To Release Hedge Fund Best Practices
Nasdaq Mon, 14 Apr 2008 8:50 AM PDT
WASHINGTON -(Dow Jones)- Two private sector committees created by the President's Working Group will release separate sets of best practices for hedge fund investors and asset managers Tuesday.
Nasdaq Mon, 14 Apr 2008 8:50 AM PDT
WASHINGTON -(Dow Jones)- Two private sector committees created by the President's Working Group will release separate sets of best practices for hedge fund investors and asset managers Tuesday.
Le-Nature's, Delphi, Ritchie, Skybus, Summit Global: Bankruptcy
Bloomberg - Monday April 14, 08:48 BST
Bloomberg - Monday April 14, 08:48 BST
Halyk Leads Kazakh Eurobond Issue
Halyk Bank this week confounded those who had believed Kazakh financial institutions would not be able to issue Eurobonds in 2008, when it priced a $500 million, five and a half year transaction via JP Morgan and UBS.Read more
Halyk Bank this week confounded those who had believed Kazakh financial institutions would not be able to issue Eurobonds in 2008, when it priced a $500 million, five and a half year transaction via JP Morgan and UBS.Read more
_________________________________________________________________________
Yield Curve Corner
_________________________________________________________________________
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/TRC2w105_GJ.jpg
_________________________________________________________________________
Iranian Situation and Other Man Made Disasters
Politicus: Lack of Iran strategy makes 2009 look risky
International Herald Tribune Mon, 14 Apr 2008 9:32 AM PDT
The only player with time to burn, a credible sense of direction and initiative is Iran.
International Herald Tribune Mon, 14 Apr 2008 9:32 AM PDT
The only player with time to burn, a credible sense of direction and initiative is Iran.
US, Iran in secret discussions on nuclear program: report
AFP via Yahoo! News Sun, 13 Apr 2008 8:13 PM PDT
The United States and Iran have been conducting secret back-channel discussions on Tehran's nuclear program and frozen relations between the two countries, The Independent reported Monday.
AFP via Yahoo! News Sun, 13 Apr 2008 8:13 PM PDT
The United States and Iran have been conducting secret back-channel discussions on Tehran's nuclear program and frozen relations between the two countries, The Independent reported Monday.
LONDON (HedgeWorld.com)—Credit markets continue to exhibit volatile and illiquid characteristics but a fund focusing on opportunities across the structured credit classes launched in December by Cairn Financial Products Ltd. ......
LONDON (HedgeWorld.com)—The Bank of New York Mellon announced on Thursday [April 10] the launch of its first 130/30 fund. The new fund, dubbed Mellon Global Extended Alpha Fund, will focus on global equity and will offer daily pricing and liquidity. ......
Iran: Blast at Shiite Mosque in Shiraz
April 12, 2008 2220 GMT
A Shiite mosque in southern Iran was rocked by an explosion April 12. Until Tehran has the mystery solved, the progress of talks with the United States over Iraq will likely be slowed.
http://www.stratfor.com/analysis/iran_blast_shiite_mosque_shiraz
April 12, 2008 2220 GMT
A Shiite mosque in southern Iran was rocked by an explosion April 12. Until Tehran has the mystery solved, the progress of talks with the United States over Iraq will likely be slowed.
http://www.stratfor.com/analysis/iran_blast_shiite_mosque_shiraz
Iran: Hezbollah Getting Training In Iran
April 14, 2008 1429 GMT
Since the end of the 2006 Israeli-Hezbollah conflict, Hezbollah has sent more than 37,000 young...
http://www.stratfor.com/sitrep/iran_hezbollah_getting_training_iran
April 14, 2008 1429 GMT
Since the end of the 2006 Israeli-Hezbollah conflict, Hezbollah has sent more than 37,000 young...
http://www.stratfor.com/sitrep/iran_hezbollah_getting_training_iran
Exclusive: Ahmadinejad denies al Qaeda’s 9/11 attack on America
8 Apr.: For Iran’s Nuclear Technology day, April 8, Iran’s president Mahmoud Ahmadinejad raised doubts about whether the al Qaeda attack on New York actually took place on Sept. 11, 2001. In his most provocative anti-US speech to date, he asked why the US had never released the names of the thousands of dead in the Trade Center attacks and how the most advanced security, intelligence and tracking devices in the world had failed to detect the hijackers’ planes before they struck the two New York towers.
Ahmadinejad is famous also for denying the Nazi Holocaust.
Announcing earlier that Iran had begun installing 6,000 new advanced (P2) centrifuges for uranium enrichment at Natanz, the Iranian president claimed his country’s nuclear program had passed the point of no-return. America is disintegrating, according to Ahmadinejad, who boasted that Iran’s nuclear achievement is a turning-point in history that will change the international order prevailing since World War II.
Ahmadinejad is famous also for denying the Nazi Holocaust.
Announcing earlier that Iran had begun installing 6,000 new advanced (P2) centrifuges for uranium enrichment at Natanz, the Iranian president claimed his country’s nuclear program had passed the point of no-return. America is disintegrating, according to Ahmadinejad, who boasted that Iran’s nuclear achievement is a turning-point in history that will change the international order prevailing since World War II.
_________________________________________________________________________
Opalesque’s Corner
- Opalesque Exclusive: African landscape (3) - Mergence to start offshore hedge fund, looking for seeders, strategist maintains commodity market not a cyclical phenomenon, Essay: China and India go to Africa, new deals in the developing world
- Opalesque Exclusive: Golfer and hedge fund manager leads his fund to annualized returns in the top 4% of its peer group since inception with fund of best-of-breed hedge funds, on a European road-show next week
- Performance: Commodity hedge fund advised by Brian Hunter delivers 49% in Q1, RAB Capital`s L/S mining and resources hedge fund returns 14.6% in February, Credit crunch hurts hedge fund stars, including Appaloosa`s David Tepper and JWM`s John Meriwether, Bear Stearns` $1.2bln macro hedge fund down 15% YTD, Integrated Asset Management 2007 profits rise 40%, Barron`s ranking of top-performing hedge funds worldwide
- Opalesque Exclusive: Quantek LatAm multi-strategy fund gains +1.00% in March, +3.61% YTD, Quantek Opportunity Fund reports 28th positive month since inception
- London Diversified cuts hedge funds` management fees after market losses in Q1
- Indices: RBC Hedge 250 Index down -2.51% in March, -3.43% YTD
- Assets: Lyxor sets five-fold growth for Quantic currency funds, Partners Group closes mezzanine fund above target
- Lehman`s new PE-style fund will buy stakes in hedge fund managers
- M&A: Legg Mason on look out for more buys
- Manager Profile: Hedge fund`s pioneer listing pays off
- Trends: Hedge funds buying up discount debt in UK`s companies, Durban Capital: Retailing is `entering a new paradigm` in current inflation worries
- Views: What would have Alfred Winslow Jones thought today?, FPA: Future U.S. stock returns likely to slide below historical averages
- Credit Crunch Update: Credit Suisse may announce write-downs of up to CHF5bln ($4.97bln), UBS CEO says the bank is over the worst, Taking the credit crunch private: Goldman`s Level 3 assets rose 39%, IMF rejects criticism over global turmoil, Japan`s Mizuho stung by $5.5bln in subprime losses
- Regulators: Opalesque Exclusive: Financial Stability Forum releases recommendations to achieve increased global market resilience, SEC `soon` to offer guidance for hedge fund firms grappling cash solicitation rule, G7 talks: Banks` self-regulation plan shunned, Opinion: Schroders CIO says hedge funds need more regulation
- Legal: U.S. motion charges Headstart in scheme, second `timing` suit, UK hedge fund Headstart calls SEC suit `misguided`, Judge rules Ritchie hedge fund can`t be involuntary bankrupt, Lehman has reportedly offered information on HF rumors to the SEC, SRM`s lawyers urge inquiry into Northern Rock loans leak
- Environmental Trading: Opalesque Exclusive: Chicago Climate Exchange surpasses 2007 year-end total volume of carbon contracts, Deutsche AM launches climate change fund, `Climate change theme not exclusively for believers`
- Commodities: Oil price to hit $150, says top fund manager
- Risk Management: Asset managers increasingly turn to risk experts
- Service Providers: Morgan Stanley launches research service unit for HF managers, Credit woes highlight new demands on service providers
- People: Opalesque Exclusive: Reech AiM appoints Jaudi brothers as partners and announces formation of new credit team, Carne Global adds technology arm, hires two to head, Man Investment`s Morrison to retire after 22 years, Gartmore FoFs head Hambi steps down
- Employment: London City faces worst job losses since the dotcom crash, up to 11,000 expected in 2008, Plenty of financial jobs in China
- Institutions: KPMG survey shows 80% of UK institutional investors, consultants back hedge fund standards, Taiwan`s public pension fund to invest more offshore, Charities urged to take more risk and include alternatives
- Domiciles: The Channel Islands try to win back Europe`s hedge fund business
- Europe: Opalesque Exclusive: Regulatory framework for FoHFs in France: The AMF amends general regulation following October 2007 working group`s report, Careful handling needed to safeguard Ucits` reputation, UK and European 130/30 funds included in new BlackRock fund range, Hedge fund pressured economist to talk down Icelandic economy, Lansdowne Partners denies `attack` on Icelandic market
- Asia: Lipper analyst says one out of six Asia-focused hedge funds to close in 2008
- Australasia: Kiwi-focused fund on lookout for marketer
- Event: Opalesque Exclusive: Four Canadian hedge fund managers in Geneva on 22nd April
- Sovereign Wealth Funds: European fund management veteran says sovereign funds will `salvage the world`
- Activist News: Pardus warns it will escalate board battle
- Niche Investing: GLG`s Pierre Lagrange invests in UK music talent fund
- News Briefs: John Paulson trades up in Hamptons, First Persia Fund opens Iranian Stock Market to foreigners, New governor of Korea`s Financial Supervisory Service (FSS) appointed
- And Finally. Uruguay sets new Guinness world record, grills 12 tonnes of beef on a grill nearly 1.5 kilometers long
- Logon: http://www.opalesque.com/index.php?act=archive
- Opalesque Exclusive: Golfer and hedge fund manager leads his fund to annualized returns in the top 4% of its peer group since inception with fund of best-of-breed hedge funds, on a European road-show next week
- Performance: Commodity hedge fund advised by Brian Hunter delivers 49% in Q1, RAB Capital`s L/S mining and resources hedge fund returns 14.6% in February, Credit crunch hurts hedge fund stars, including Appaloosa`s David Tepper and JWM`s John Meriwether, Bear Stearns` $1.2bln macro hedge fund down 15% YTD, Integrated Asset Management 2007 profits rise 40%, Barron`s ranking of top-performing hedge funds worldwide
- Opalesque Exclusive: Quantek LatAm multi-strategy fund gains +1.00% in March, +3.61% YTD, Quantek Opportunity Fund reports 28th positive month since inception
- London Diversified cuts hedge funds` management fees after market losses in Q1
- Indices: RBC Hedge 250 Index down -2.51% in March, -3.43% YTD
- Assets: Lyxor sets five-fold growth for Quantic currency funds, Partners Group closes mezzanine fund above target
- Lehman`s new PE-style fund will buy stakes in hedge fund managers
- M&A: Legg Mason on look out for more buys
- Manager Profile: Hedge fund`s pioneer listing pays off
- Trends: Hedge funds buying up discount debt in UK`s companies, Durban Capital: Retailing is `entering a new paradigm` in current inflation worries
- Views: What would have Alfred Winslow Jones thought today?, FPA: Future U.S. stock returns likely to slide below historical averages
- Credit Crunch Update: Credit Suisse may announce write-downs of up to CHF5bln ($4.97bln), UBS CEO says the bank is over the worst, Taking the credit crunch private: Goldman`s Level 3 assets rose 39%, IMF rejects criticism over global turmoil, Japan`s Mizuho stung by $5.5bln in subprime losses
- Regulators: Opalesque Exclusive: Financial Stability Forum releases recommendations to achieve increased global market resilience, SEC `soon` to offer guidance for hedge fund firms grappling cash solicitation rule, G7 talks: Banks` self-regulation plan shunned, Opinion: Schroders CIO says hedge funds need more regulation
- Legal: U.S. motion charges Headstart in scheme, second `timing` suit, UK hedge fund Headstart calls SEC suit `misguided`, Judge rules Ritchie hedge fund can`t be involuntary bankrupt, Lehman has reportedly offered information on HF rumors to the SEC, SRM`s lawyers urge inquiry into Northern Rock loans leak
- Environmental Trading: Opalesque Exclusive: Chicago Climate Exchange surpasses 2007 year-end total volume of carbon contracts, Deutsche AM launches climate change fund, `Climate change theme not exclusively for believers`
- Commodities: Oil price to hit $150, says top fund manager
- Risk Management: Asset managers increasingly turn to risk experts
- Service Providers: Morgan Stanley launches research service unit for HF managers, Credit woes highlight new demands on service providers
- People: Opalesque Exclusive: Reech AiM appoints Jaudi brothers as partners and announces formation of new credit team, Carne Global adds technology arm, hires two to head, Man Investment`s Morrison to retire after 22 years, Gartmore FoFs head Hambi steps down
- Employment: London City faces worst job losses since the dotcom crash, up to 11,000 expected in 2008, Plenty of financial jobs in China
- Institutions: KPMG survey shows 80% of UK institutional investors, consultants back hedge fund standards, Taiwan`s public pension fund to invest more offshore, Charities urged to take more risk and include alternatives
- Domiciles: The Channel Islands try to win back Europe`s hedge fund business
- Europe: Opalesque Exclusive: Regulatory framework for FoHFs in France: The AMF amends general regulation following October 2007 working group`s report, Careful handling needed to safeguard Ucits` reputation, UK and European 130/30 funds included in new BlackRock fund range, Hedge fund pressured economist to talk down Icelandic economy, Lansdowne Partners denies `attack` on Icelandic market
- Asia: Lipper analyst says one out of six Asia-focused hedge funds to close in 2008
- Australasia: Kiwi-focused fund on lookout for marketer
- Event: Opalesque Exclusive: Four Canadian hedge fund managers in Geneva on 22nd April
- Sovereign Wealth Funds: European fund management veteran says sovereign funds will `salvage the world`
- Activist News: Pardus warns it will escalate board battle
- Niche Investing: GLG`s Pierre Lagrange invests in UK music talent fund
- News Briefs: John Paulson trades up in Hamptons, First Persia Fund opens Iranian Stock Market to foreigners, New governor of Korea`s Financial Supervisory Service (FSS) appointed
- And Finally. Uruguay sets new Guinness world record, grills 12 tonnes of beef on a grill nearly 1.5 kilometers long
- Logon: http://www.opalesque.com/index.php?act=archive
_________________________________________________________________________
Misc. Items of Interest
Mon, 14 Apr 2008, 05:09
FinAlternatives
Hedge fund manager Trip Kuehne is retiring—from his second job as an amateur golfer. After qualifying for this years' Masters golf tournament, Kuehne, of the appropriately named Irving, Texas-based Double Eagle Capital Management, said he hoped to make the cut for "the working man" at the Augusta National Golf Club.
_____________________________________________________________________
Funnies, Facts, Quotes, etc….
Uruguay hosts biggest BBQ, grills 12 tons of beef
April 13, 2008 07:59 PM ET
MONTEVIDEO (Reuters) - More than a thousand barbecue fanatics
in Uruguay grilled up 12 metric tonnes (26,400 lbs) of beef
on Sunday, setting a new Guinness world record while promoting
the country's succulent top export.
http://links.reuters.com/r/O8MIT/Q6HEM/2NTCS/FES2V/CHD8X/YT/t
April 13, 2008 07:59 PM ET
MONTEVIDEO (Reuters) - More than a thousand barbecue fanatics
in Uruguay grilled up 12 metric tonnes (26,400 lbs) of beef
on Sunday, setting a new Guinness world record while promoting
the country's succulent top export.
http://links.reuters.com/r/O8MIT/Q6HEM/2NTCS/FES2V/CHD8X/YT/t
_________________________________________________________________________
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:
_________________________________________________________________________
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)
_________________________________________________________________________
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
_________________________________________________________________________
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.
|
| Manage your subscription |