Archive: 04/16/2008
Main News
Quants taking a big hit
Pensions & Investments - Chicago,IL,USA
... he's keeping a close eye on performance of Mellon's relatively new $2.7 billion International Equity Alpha Plus Strategy, a portable alpha portfolio. ...
Pensions & Investments - Chicago,IL,USA
... he's keeping a close eye on performance of Mellon's relatively new $2.7 billion International Equity Alpha Plus Strategy, a portable alpha portfolio. ...
President's Working Group r
SocGen Fined over Hedge Fund Conflict of Interest
Thomson Investment Management News - Tuesday April 15, 09:29 BST
Thomson Investment Management News - Tuesday April 15, 09:29 BST
ecommends best practices for hedge funds, investors
Source: Forbes
Two key committees of the President's Working Group (PWG) on financial markets today will recommend a set of best practices aimed at requiring hedge funds to improve their risk management practices in a range of areas, including the way they assign values for hard-to-value assets. More... <http://www.hedgefund-index.com/newstoday.asp>
Source: Forbes
Two key committees of the President's Working Group (PWG) on financial markets today will recommend a set of best practices aimed at requiring hedge funds to improve their risk management practices in a range of areas, including the way they assign values for hard-to-value assets. More... <http://www.hedgefund-index.com/newstoday.asp>
Fitch Ratings has said in a report published yesterday that the trend of regular growth in major French banks' bottom line results came to an end in 2007, when a 27% fall in reported net income was recorded by the eight largest banking groups on an aggregate basis.
Tuesday , 15 Apr 2008
Despite volatile price movements, Indian demand during the wedding season is keeping gold markets alive, although demand has suffered in other parts of Asia.
Despite volatile price movements, Indian demand during the wedding season is keeping gold markets alive, although demand has suffered in other parts of Asia.
|
news.ft.com/cms/s/a900cad8-07ef-11dd-a922-0000779fd2ac.html - Similar pages |
Ritchie Capital Bankruptcy Bid Dismissed
FINalternatives - Tuesday April 15, 09:29 BST
FINalternatives - Tuesday April 15, 09:29 BST
Credit FAQ: Standard & Poor's Addresses Frequently Asked Questions About Its Risk-Adjusted Capital Ratio
As regulators around the world begin requiring banks to adhere to Basel II rules for computing capital adequacy, we are refining and adapting our risk-adjusted capital (RAC) framework. The RAC aims to provide a globally consistent and independent view of individual banks' RAC adequacy. Unlike regulatory ratios and economic capital models, the RAC is calculated in the same way no matter where the bank is located, what Basel methodology it uses, and what its individual risk assessments may be.
To learn more, click or copy and paste the URL below:
http://standardandpoors.rsys1.net/servlet/cc6?kHiQACRBQTVsLgHxhilpuHQJhuV2VU
As regulators around the world begin requiring banks to adhere to Basel II rules for computing capital adequacy, we are refining and adapting our risk-adjusted capital (RAC) framework. The RAC aims to provide a globally consistent and independent view of individual banks' RAC adequacy. Unlike regulatory ratios and economic capital models, the RAC is calculated in the same way no matter where the bank is located, what Basel methodology it uses, and what its individual risk assessments may be.
To learn more, click or copy and paste the URL below:
http://standardandpoors.rsys1.net/servlet/cc6?kHiQACRBQTVsLgHxhilpuHQJhuV2VU
Trading Losses At Financial Institutions Underscore Need For Greater Market Risk Capital
The securities markets changed dramatically in 2007, shaking the trading businesses of banks and showing up in their risk measurements. The main metric, value at risk (VAR), was rising in conjunction with soaring market volatility. However, many banks posted losses much higher than VAR and even greater than their regulatory requirements for the capital they need to hold against market risks. This illustrated the shortcomings of VAR models, but if understood properly, VAR remains an important risk management tool.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc6?kHiQACRBQTVsLgHxhilpuHQJhuV2VW
The securities markets changed dramatically in 2007, shaking the trading businesses of banks and showing up in their risk measurements. The main metric, value at risk (VAR), was rising in conjunction with soaring market volatility. However, many banks posted losses much higher than VAR and even greater than their regulatory requirements for the capital they need to hold against market risks. This illustrated the shortcomings of VAR models, but if understood properly, VAR remains an important risk management tool.
To learn more, click or copy and paste the URL below:
(subscription required)
http://standardandpoors.rsys1.net/servlet/cc6?kHiQACRBQTVsLgHxhilpuHQJhuV2VW
Strategy Focus Report: Global Macro Since January 2001, the Macro funds have returned an average annual compounded return of +10.42%, slightly below the HFN Aggregate. However, the average Macro fund has a superior risk-adjusted return when downside deviation is considered. Its median Sortino ratio of +.37 surpasses that of both the HF Agg and S&P 1200. [more
Cyberwarfare 101: The Internet Is Mightier Than the Sword
April 15, 2008 1347 GMT
In addition to being a revolutionary medium of communication, the Internet also offers a devastating means of waging war. Understanding the evolution of the Internet is key to understanding the future and effectiveness of cyberwarfare.
http://www.stratfor.com/analysis/cyberwarfare_101_internet_mightier_sword
April 15, 2008 1347 GMT
In addition to being a revolutionary medium of communication, the Internet also offers a devastating means of waging war. Understanding the evolution of the Internet is key to understanding the future and effectiveness of cyberwarfare.
http://www.stratfor.com/analysis/cyberwarfare_101_internet_mightier_sword
Tue, 15 Apr 2008, 06:00
HedgeWeek
Reports that the Ucits IV project might be delayed or scrapped altogether should hardly come as a surprise to those following the financial crisis.
by Gary Weiss
Every financial crisis is different, but at some point, they all end. It is hard to know if the end of this one is at hand, but there are grounds to believe ...
|
Hedge fund's pioneer listing pays off. By Phil Davis. Sun Apr 13 16:35:25 EDT 2008. Brevan Howard is one of just a handful of hedge fund firms to deliver ... us.ft.com/ftgateway/superpage.ft?news_id=fto041320081642388588 - 21k - |
U.S. hedge fund oversight needs teeth, say critics
Reuters via Yahoo! News Tue, 15 Apr 2008 2:51 PM PDT
Critics blasted a Treasury Department call for the $1.8 trillion hedge fund industry to better police itself, saying voluntary guidelines did little to protect investors and regulate the pools of capital.
Reuters via Yahoo! News Tue, 15 Apr 2008 2:51 PM PDT
Critics blasted a Treasury Department call for the $1.8 trillion hedge fund industry to better police itself, saying voluntary guidelines did little to protect investors and regulate the pools of capital.
China: Hot Money Inflows Coming in Fast and Furious
Seeking Alpha - New York,NY,USA
In Saturday’s entry I tried to figure out what is happening to the hot money proxy as far as the most recent reserve numbers go, and although it is not ...
Seeking Alpha - New York,NY,USA
In Saturday’s entry I tried to figure out what is happening to the hot money proxy as far as the most recent reserve numbers go, and although it is not ...
Buffett Gets "Spitzered"
His General Re chief quits amid reports of pressure from prosecutors. Read More
His General Re chief quits amid reports of pressure from prosecutors. Read More
Who's Smarter Than Carl Icahn?
Meet the two funds that are getting a charge from Circuit City. Read More
Meet the two funds that are getting a charge from Circuit City. Read More
_________________________________________________________________________
Yield Curve Corner
American consumers showing signs of strain: Bespoke
Reuters - USA
Federal Reserve Chairman Ben Bernanke said as much earlier this year, acknowledging that the central bank's job is even more difficult, especially compared ...
Reuters - USA
Federal Reserve Chairman Ben Bernanke said as much earlier this year, acknowledging that the central bank's job is even more difficult, especially compared ...
The Madness of Ben Bernanke
Spiegel Online - Berlin,Germany
AP Ben Bernanke at the G7 meeting of central bank governors over the weekend. Alan Greenspan and Ben Bernanke have more in common with the big cat ...
Spiegel Online - Berlin,Germany
AP Ben Bernanke at the G7 meeting of central bank governors over the weekend. Alan Greenspan and Ben Bernanke have more in common with the big cat ...
_________________________________________________________________________
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/FSHSasia106_N8.jpg
|
Colombia: Volcanic Eruption, Little Economic Impact. April 15, 2008 | 1829 GMT. Colombia — Nevado del Ruiz after 1985 eruption ... www.stratfor.com/analysis/colombias_volcanic_eruption_little_economic_impact - 7 |
_________________________________________________________________________
Iranian Situation and Other Man Made Disasters
Pray for rain, Iran energy minister told
AFP via Yahoo! News Tue, 15 Apr 2008 6:40 AM PDT
A top provincial cleric has urged Iran's energy minister to publicly pray for rain as the country suffers from a serious drought, the student ISNA news agency reported on Tuesday.
AFP via Yahoo! News Tue, 15 Apr 2008 6:40 AM PDT
A top provincial cleric has urged Iran's energy minister to publicly pray for rain as the country suffers from a serious drought, the student ISNA news agency reported on Tuesday.
Iran: Amnesty International and international labour organisations welcome release of Mahmoud Salehi
Amnesty International Tue, 15 Apr 2008 12:11 PM PDT
The ITUC, ITF and Amnesty international today welcomed the release from Sanandaj prison, in Iran's Kordestan Province, of independent labour activist Mahmoud Salehi, after one year of imprisonment
Amnesty International Tue, 15 Apr 2008 12:11 PM PDT
The ITUC, ITF and Amnesty international today welcomed the release from Sanandaj prison, in Iran's Kordestan Province, of independent labour activist Mahmoud Salehi, after one year of imprisonment
_________________________________________________________________________
Opalesque’s Corner
- Opalesque Exclusive: Amplitude soft-closes quant fund at targeted $500m, looks to start new one in September
- New Launches: Stenham launches Japanese Yen share class in the Stenham Multi-Strategy Fund, HSBC Halbis plans L/S India Mid-Cap HF carved out of main India HF as global fund managers eye bigger chunk of Indian mid-cap firms, Cube Capital to launch China, Vietnam special situations fund
- Performance: Opalesque Exclusives: IMFC Global at +22.87% for 1Q08, Positive March brings Efficient 12 month run to +42.33%, New Cannonball FOHF ends first quarter +2.7%, Crescent GLS Arabian Opportunities Fund ends March at -7.26%, Saudi Arabia and Dubai amongst world`s worst performing markets that month
- Cheyne Capital Update: Cheyne SIV receivers to make payment to senior debtholders
- Trends: Investors showing low patience for quant strategies, Ultra-rich in GBP70bln rush into blue chips
- Man Investments Report: Hedge fund investing in distressed securities for U.S. investors
- Regulatory: U.S. advisory panels urge hedge-fund changes, Henry Paulson`s panels lay out hedge fund `Best Practices`, UK Pension funds welcome hedge fund standards, G7 bank proposals get lukewarm reception
- Credit Crunch Update: Wachovia in the red for Q1, to raise $7bln to combat decline, Capital-raising plans like those of Wachovia, while fraught with pitfalls, are probably necessary, Credit crunch and hedge funds (video), Goldman Sachs and Wells Fargo issue grim equity reports, `Corrigan group` to study reasons for turmoil and produce third report
- Credit Crunch Views: Wharton: Don't blame market mess on hedge funds, FT Comment: Fed plan is spoilt by its backing of hypocrites
- Bear Stearns Update: Bear Stearns CEO may remain as JPMorgan rainmaker, Cayne to receive another $4.6m from Bear Stearns sale
- Legal: Bayou's Israel gets 20-year term for hedge-fund fraud, Bayou judge goes soft on Scammy
- People: Peter Clarke, chief executive of Man Group, to succeed John Morrison and head alternative unit
- Personnel: Hedge fund compensation up 50% in 2007, Global financial institutions are shipping top talents to Asia, Study shows off levels of testosterone and cortisol in traders
- Commodities: An explanation for soaring commodity prices, India Government may ban steel futures to curb inflation, A real growth play: agriculture ETFs commodity funds may give investors some solid returns
- Environmental Trading: Chicago Climate Exchange and Dow Jones Indexes partner on emissions indices, Comment: Green investing requires a long view, ACP Capital establishes renewable energy partnership
- Europe: Update: Societe Generale fined EUR300K over hedge fund conflict of interest, Europe`s biggest banks` hardest-to-value assets escalated to EUR163bln at end-2007, Dublin financial firms will be able to relocate to Northern Ireland, Comment: Ucits IV delay may be justified
- Asia: India-focused hedge funds lose over 25% in 2008, Atyant Capital India Fund-I down 20% in March, down 37%YTD, Mercer and Kroll Report: China, India and South East Asia most desirable regions for foreign investment but almost as risky as M&A in Africa
- Middle East: Bahrain Stock Exchange moves toward online trading, Kuwait hosts introductory lecture on hedge funds, Dow Jones Indexes to strengthen presence in the Middle East
- Australasia: Opalesque Exclusive: Man Investments Australia launches institutional portable alpha product, Australian lawyer points finger at hedge funds in Opes Prime account debacle
- Activist News: Hedge fund TCI may freeze J-Power voting rights, Nikkei says, Jumpit says RAB now holds indirect stake of 27.16% in company, Silchester hedge fund`s boss gets most lucrative pay deals of the year: GBP23m, Toscafund now leading Aberdeen investor
- Sovereign Wealth Funds: China`s sovereign funds to outsource $320bln by 2010, U.S. is vigilant on sovereign wealth funds
- News Briefs: S&P report concludes traditional long only benchmarks the most appropriate for 130/30 strategies, AFL-CIO lobbies Congress for 'shareholder bill of rights', Instinet, Nomura team up on Algo Suite
- And Finally. Mole Man to pay GBP300,000 in damages caused by 40 years' worth of tunnelling under his London house
- Logon: http://www.opalesque.com/index.php?act=archive
- New Launches: Stenham launches Japanese Yen share class in the Stenham Multi-Strategy Fund, HSBC Halbis plans L/S India Mid-Cap HF carved out of main India HF as global fund managers eye bigger chunk of Indian mid-cap firms, Cube Capital to launch China, Vietnam special situations fund
- Performance: Opalesque Exclusives: IMFC Global at +22.87% for 1Q08, Positive March brings Efficient 12 month run to +42.33%, New Cannonball FOHF ends first quarter +2.7%, Crescent GLS Arabian Opportunities Fund ends March at -7.26%, Saudi Arabia and Dubai amongst world`s worst performing markets that month
- Cheyne Capital Update: Cheyne SIV receivers to make payment to senior debtholders
- Trends: Investors showing low patience for quant strategies, Ultra-rich in GBP70bln rush into blue chips
- Man Investments Report: Hedge fund investing in distressed securities for U.S. investors
- Regulatory: U.S. advisory panels urge hedge-fund changes, Henry Paulson`s panels lay out hedge fund `Best Practices`, UK Pension funds welcome hedge fund standards, G7 bank proposals get lukewarm reception
- Credit Crunch Update: Wachovia in the red for Q1, to raise $7bln to combat decline, Capital-raising plans like those of Wachovia, while fraught with pitfalls, are probably necessary, Credit crunch and hedge funds (video), Goldman Sachs and Wells Fargo issue grim equity reports, `Corrigan group` to study reasons for turmoil and produce third report
- Credit Crunch Views: Wharton: Don't blame market mess on hedge funds, FT Comment: Fed plan is spoilt by its backing of hypocrites
- Bear Stearns Update: Bear Stearns CEO may remain as JPMorgan rainmaker, Cayne to receive another $4.6m from Bear Stearns sale
- Legal: Bayou's Israel gets 20-year term for hedge-fund fraud, Bayou judge goes soft on Scammy
- People: Peter Clarke, chief executive of Man Group, to succeed John Morrison and head alternative unit
- Personnel: Hedge fund compensation up 50% in 2007, Global financial institutions are shipping top talents to Asia, Study shows off levels of testosterone and cortisol in traders
- Commodities: An explanation for soaring commodity prices, India Government may ban steel futures to curb inflation, A real growth play: agriculture ETFs commodity funds may give investors some solid returns
- Environmental Trading: Chicago Climate Exchange and Dow Jones Indexes partner on emissions indices, Comment: Green investing requires a long view, ACP Capital establishes renewable energy partnership
- Europe: Update: Societe Generale fined EUR300K over hedge fund conflict of interest, Europe`s biggest banks` hardest-to-value assets escalated to EUR163bln at end-2007, Dublin financial firms will be able to relocate to Northern Ireland, Comment: Ucits IV delay may be justified
- Asia: India-focused hedge funds lose over 25% in 2008, Atyant Capital India Fund-I down 20% in March, down 37%YTD, Mercer and Kroll Report: China, India and South East Asia most desirable regions for foreign investment but almost as risky as M&A in Africa
- Middle East: Bahrain Stock Exchange moves toward online trading, Kuwait hosts introductory lecture on hedge funds, Dow Jones Indexes to strengthen presence in the Middle East
- Australasia: Opalesque Exclusive: Man Investments Australia launches institutional portable alpha product, Australian lawyer points finger at hedge funds in Opes Prime account debacle
- Activist News: Hedge fund TCI may freeze J-Power voting rights, Nikkei says, Jumpit says RAB now holds indirect stake of 27.16% in company, Silchester hedge fund`s boss gets most lucrative pay deals of the year: GBP23m, Toscafund now leading Aberdeen investor
- Sovereign Wealth Funds: China`s sovereign funds to outsource $320bln by 2010, U.S. is vigilant on sovereign wealth funds
- News Briefs: S&P report concludes traditional long only benchmarks the most appropriate for 130/30 strategies, AFL-CIO lobbies Congress for 'shareholder bill of rights', Instinet, Nomura team up on Algo Suite
- And Finally. Mole Man to pay GBP300,000 in damages caused by 40 years' worth of tunnelling under his London house
- Logon: http://www.opalesque.com/index.php?act=archive
_________________________________________________________________________
Misc. Items of Interest
_____________________________________________________________________
Funnies, Facts, Quotes, etc….
_________________________________________________________________________
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 |