Archive: 04/24/2008
Main News
NEW YORK (HedgeWorld.com)—While news of trouble at monoline insurers seems to have slowed since February, the municipal bond sector still faces critical challenges. ......
The rule changes would have raised the size of the market stake that financial speculators could hold, and exempted commodity index funds from those higher ...
www.nytimes.com/2008/04/23/business/23cftc-web.html?
www.nytimes.com/2008/04/23/business/23cftc-web.html?
As wheat prices have risen over the past year or so, the government of India has faced a difficult decision: when is the best time to buy wheat on the international market in order to meet the shortfall in domestic production?Wait until later in the hope that prices are peaking, or pay the current price to avoid still higher prices later on? The answer, at least in part, is to use the classic tools of the futures markets to hedge the risk of unexpected price movements.
Food Crisis Is Depicted As 'Silent Tsunami'
Sharp Price Hikes Leave Many Millions in Hunger
(By Kevin Sullivan, The Washington Post)
Sharp Price Hikes Leave Many Millions in Hunger
(By Kevin Sullivan, The Washington Post)
Hedge Fund Investing and Politics
NYTimes.com via Yahoo! Finance Tue, 22 Apr 2008 2:40 PM PDT
Many of the wealthiest hedge fund managers are lining up behind a seemingly unlikely choice in the presidential race.
NYTimes.com via Yahoo! Finance Tue, 22 Apr 2008 2:40 PM PDT
Many of the wealthiest hedge fund managers are lining up behind a seemingly unlikely choice in the presidential race.
Israel, Syria: Swapping the Golan Heights for Peace? April 23, 2008 | 1642 GMT. Israeli soldiers at Golan Heights observation post ...
www.stratfor.com/analysis/israel_syria_swapping_golan_heights_peace - 4 hours ago
www.stratfor.com/analysis/israel_syria_swapping_golan_heights_peace - 4 hours ago
Hedge Fund Investing and Politics - 22 hours ago
Mr. Obama might be struggling with the blue-collar vote in Pennsylvania, but he has nailed the hedge fund vote. Then again, politics, like the markets, ...
FBI Warns Of Fraud At Hedge Funds
The U.S. Federal Bureau of Investigation has warned that its investigations into corporate fraud may reveal more unlawful actions on the part of investment banks and hedge funds.Read more
The U.S. Federal Bureau of Investigation has warned that its investigations into corporate fraud may reveal more unlawful actions on the part of investment banks and hedge funds.Read more
The Politics of the Improbable. April 23, 2008 | 0145 GMT. Graphic for Geopolitical Intelligence Report. By Peter Zeihan. Fear is a powerful motivator,
HF Guidelines Seen As Big Step Forward
The President's Working Group committees released two sets of best practices guidelines for investors and hedge fund managers. Many see this as a step in the right direction.
The President's Working Group committees released two sets of best practices guidelines for investors and hedge fund managers. Many see this as a step in the right direction.
Placing the Terrorist Threat to the Food Supply in Perspective. April 22, 2008 | 2158 GMT. Graphic for Terrorism Intelligence Report ..
The Impending Mortgage Crisis
Seeking Alpha - New York,NY,USA
If you read the papers and watch the news, you may believe that we are in and have been in a subprime mortgage crisis for the last year or so. That is true. ...
Seeking Alpha - New York,NY,USA
If you read the papers and watch the news, you may believe that we are in and have been in a subprime mortgage crisis for the last year or so. That is true. ...
Hedge Fund Replication
How UBS came undone
CNNMoney.com - USA
For example, UBS committed billions of dollars in capital in late 2005 and early 2006 in a bid to dominate the CDO markets. At a time when Goldman, ...
CNNMoney.com - USA
For example, UBS committed billions of dollars in capital in late 2005 and early 2006 in a bid to dominate the CDO markets. At a time when Goldman, ...
Ambac reports quarterly net loss of $1.66 billion
MarketWatch - USA
That would have big implications for the municipal bond market and investments banks that hedged some of their CDO exposures by buying guarantees from bond ...
MarketWatch - USA
That would have big implications for the municipal bond market and investments banks that hedged some of their CDO exposures by buying guarantees from bond ...
NEW YORK (HedgeWorld.com)—Institutional investors are increasingly interested in the idea of separating market exposure from investments that target above-market returns. ......
GLG Star Manager Set to Forfeit $250m to Quit Job
Financial Times - Wednesday April 23, 09:40 BST
Financial Times - Wednesday April 23, 09:40 BST
Citi: Can anyone run the bank too big to fail?
CNN Money - Tuesday April 22, 11:17 BST
CNN Money - Tuesday April 22, 11:17 BST
Kinetics' Funds Losing Air
New York Post - Tuesday April 22, 11:13 BST
New York Post - Tuesday April 22, 11:13 BST
_________________________________________________________________________
Yield Curve Corner
Our Bailout Culture Creates a Huge Moral Hazard
Wall Street Journal - USA
But this was, of course, only one example of the so-called Greenspan 'put,' now the Bernanke put -- the embodiment of the Fed's long-standing policy of ...
Wall Street Journal - USA
But this was, of course, only one example of the so-called Greenspan 'put,' now the Bernanke put -- the embodiment of the Fed's long-standing policy of ...
_________________________________________________________________________
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/TRCrosiedurga114_GJ.jpg
_________________________________________________________________________
Iranian Situation and Other Man Made Disasters
Iran agrees to discuss alleged nuclear weapons program
AP via Yahoo! News Wed, 23 Apr 2008 5:58 AM PDT
The U.N. nuclear monitoring agency on Wednesday announced what it called a "milestone" agreement with Iran that aims to provide answers about allegations that Tehran tried to develop nuclear weapons.
AP via Yahoo! News Wed, 23 Apr 2008 5:58 AM PDT
The U.N. nuclear monitoring agency on Wednesday announced what it called a "milestone" agreement with Iran that aims to provide answers about allegations that Tehran tried to develop nuclear weapons.
Geopolitical Diary: Al-Zawahiri Tries to Exploit U.S.-Iranian Dealings on Iraq
April 23, 2008 0146 GMT
In an April 17 audio message, al Qaeda's No. 2 leader, Ayman al-Zawahiri, played off Sunni-Shiite tensions to weaken the United States' position in Iraq and use Sunnis to block Iran's influence.
http://www.stratfor.com/geopolitical_diary/geopolitical_diary_al_zawahiri_tries_exploit_u_s_iranian_dealings_iraq
April 23, 2008 0146 GMT
In an April 17 audio message, al Qaeda's No. 2 leader, Ayman al-Zawahiri, played off Sunni-Shiite tensions to weaken the United States' position in Iraq and use Sunnis to block Iran's influence.
http://www.stratfor.com/geopolitical_diary/geopolitical_diary_al_zawahiri_tries_exploit_u_s_iranian_dealings_iraq
_________________________________________________________________________
Opalesque’s Corner
- Opalesque Exclusive: China Special - Mixed views about the Chinese financial markets at the Jetfin conference, China HF universe peaked 2007 with $15bln assets, down to $12bln now, fund count stalls at 80, China staring at grain imports, Investors in China are brought back down to earth with a thud
- Fund Launches: Opalesque Exclusive: Ferox launches Japan convertible fund with $100m, to offer play on future recovery of Japanese equity market, Investcorp turns to John Paulson to launch new credit markets hedge fund
- Performance: Opalesque Exclusive: Zeff Capital Offshore Fund down -4.5% in Q1, Opalesque Exclusive: Agra India equity long-short fund falls 4.7% in March, Cumulus weather related event driven funds down 5.4%, Horizon Asset Management funds down over 20% in Q1, Croupier fund down 41.1%
- Indices: State Street Investor Confidence index falls from 77.2 to 72.8 in April
- GLG Update: Greg Coffey leaves GLG in October, may start his own fund, Comment: When $250m isn`t enough, Meanwhile, GLG plans further fund launches, distribution expansion
- M&A: Babson Capital acquires leading distressed debt management business from Murray Capital Management
- Credit Crunch Update: SEC refuses to say why Bear enquiry dropped, Credit Suisse doubles job cuts to 1,000, UBS to slash investment banking after crisis
- People: Opalesque Exclusive: Bingham hires official from Japanese Securities and Exchange Surveillance Commission, John Brunjes joins Bracewell & Giuliani`s private investment funds group, Archibald Cox to be chairman of Barclays Americas, SuperDerivatives appoints Stephen Baker head of sales for UK, Ireland, Middle East and Africa
- Rating Agencies: SIFMA mounts probe on credit ratings, SEC readies report on credit rating agencies, HF managers need to display good practices in DD, says Fitch
- Regulations: CFA Institute Centre says fair value `smoothing` will mask the reality of market conditions and allow companies to hide risk, US watchdog rebukes FSA on derivatives, Federal regulators back away from futures proposals
- Commodities: Investec predicts platinum price north of $2,400 by December, Oil goes above $118 (video), HF activity increase volatility in oil market but long-term fundamental supply constraints key driver, AIG`s Raab examines price rise in agricultural commodities, India`s commodity markets regulator may ban hedge, PE funds from trading in commodity markets, Wheat futures and India, to hedge or not to hedge
- Energy Trading: Energy expert favors gas over oil, sees strong development in solar in the long run
- Europe: RBS confirms plan to raise GBP12bln ($23.9bln) in Britain`s biggest ever rights issue, SocGen knew of Kerviel deals according to German watchdog, Dutch hedge fund start-ups look for more support from institutions at home
- Africa: Scipion`s CIO talks about Africa, Rand`s rally may slow as rates fail to curb inflation
- Asia: Update: UBS launches fund services in Hong Kong, Comment: Welcome to the land of the aging second-class economy
- Australasia: Comment: Blame greed, not short selling for difficulties encountered by Melbourne broker Opes Prime, Sydney-based Link, Tricom
- Exchanges: CFTC rethinking proposals to raise position limits, CME Group requests CFTC approval to offer cleared OTC grain swaps, CME targets sovereign wealth funds and central banks
- Service Providers: Opalesque Exclusive: GlobeOp issues first Annual Report following July 2007 listing on the London Stock Exchange, Epitome Global Services expands hedge fund advisory platform, TheBuyList.com unveils beta release of hedge fund transaction database and analytics
- Event: Hedge Funds Care Midwest announces sixth annual benefit for children
- Book: The money kept vanishing - David Einhorn turns spotlight on investment play
- Activist News: New York Times shareholders elect Harbinger directors, Stadium Capital Management raises stake in Pantry, ASMI activist investor sees 40% support for company shakeup, EU trade commissioner Mandelson attacks Japan`s block on TCI bid
- News Briefs: Survey shows art market booms amid financial market turmoil, Citigroup board directors re-elected, but criticized, Re-insurer XL Capital reports income loss due to HF investments, Vanguard opens 3 payout funds with alternative strategies, Lehman launches second campaign in Russia, UN forecasts slower Latin America growth
- And Finally. Flying father missing over Brazilian seas
- Logon: http://www.opalesque.com/index.php?act=archive
- Fund Launches: Opalesque Exclusive: Ferox launches Japan convertible fund with $100m, to offer play on future recovery of Japanese equity market, Investcorp turns to John Paulson to launch new credit markets hedge fund
- Performance: Opalesque Exclusive: Zeff Capital Offshore Fund down -4.5% in Q1, Opalesque Exclusive: Agra India equity long-short fund falls 4.7% in March, Cumulus weather related event driven funds down 5.4%, Horizon Asset Management funds down over 20% in Q1, Croupier fund down 41.1%
- Indices: State Street Investor Confidence index falls from 77.2 to 72.8 in April
- GLG Update: Greg Coffey leaves GLG in October, may start his own fund, Comment: When $250m isn`t enough, Meanwhile, GLG plans further fund launches, distribution expansion
- M&A: Babson Capital acquires leading distressed debt management business from Murray Capital Management
- Credit Crunch Update: SEC refuses to say why Bear enquiry dropped, Credit Suisse doubles job cuts to 1,000, UBS to slash investment banking after crisis
- People: Opalesque Exclusive: Bingham hires official from Japanese Securities and Exchange Surveillance Commission, John Brunjes joins Bracewell & Giuliani`s private investment funds group, Archibald Cox to be chairman of Barclays Americas, SuperDerivatives appoints Stephen Baker head of sales for UK, Ireland, Middle East and Africa
- Rating Agencies: SIFMA mounts probe on credit ratings, SEC readies report on credit rating agencies, HF managers need to display good practices in DD, says Fitch
- Regulations: CFA Institute Centre says fair value `smoothing` will mask the reality of market conditions and allow companies to hide risk, US watchdog rebukes FSA on derivatives, Federal regulators back away from futures proposals
- Commodities: Investec predicts platinum price north of $2,400 by December, Oil goes above $118 (video), HF activity increase volatility in oil market but long-term fundamental supply constraints key driver, AIG`s Raab examines price rise in agricultural commodities, India`s commodity markets regulator may ban hedge, PE funds from trading in commodity markets, Wheat futures and India, to hedge or not to hedge
- Energy Trading: Energy expert favors gas over oil, sees strong development in solar in the long run
- Europe: RBS confirms plan to raise GBP12bln ($23.9bln) in Britain`s biggest ever rights issue, SocGen knew of Kerviel deals according to German watchdog, Dutch hedge fund start-ups look for more support from institutions at home
- Africa: Scipion`s CIO talks about Africa, Rand`s rally may slow as rates fail to curb inflation
- Asia: Update: UBS launches fund services in Hong Kong, Comment: Welcome to the land of the aging second-class economy
- Australasia: Comment: Blame greed, not short selling for difficulties encountered by Melbourne broker Opes Prime, Sydney-based Link, Tricom
- Exchanges: CFTC rethinking proposals to raise position limits, CME Group requests CFTC approval to offer cleared OTC grain swaps, CME targets sovereign wealth funds and central banks
- Service Providers: Opalesque Exclusive: GlobeOp issues first Annual Report following July 2007 listing on the London Stock Exchange, Epitome Global Services expands hedge fund advisory platform, TheBuyList.com unveils beta release of hedge fund transaction database and analytics
- Event: Hedge Funds Care Midwest announces sixth annual benefit for children
- Book: The money kept vanishing - David Einhorn turns spotlight on investment play
- Activist News: New York Times shareholders elect Harbinger directors, Stadium Capital Management raises stake in Pantry, ASMI activist investor sees 40% support for company shakeup, EU trade commissioner Mandelson attacks Japan`s block on TCI bid
- News Briefs: Survey shows art market booms amid financial market turmoil, Citigroup board directors re-elected, but criticized, Re-insurer XL Capital reports income loss due to HF investments, Vanguard opens 3 payout funds with alternative strategies, Lehman launches second campaign in Russia, UN forecasts slower Latin America growth
- And Finally. Flying father missing over Brazilian seas
- Logon: http://www.opalesque.com/index.php?act=archive
_________________________________________________________________________
Misc. Items of Interest
_____________________________________________________________________
Funnies, Facts, Quotes, etc….
ubiquitous yoo-BIK-wih-tuhs, adjective:
Existing or being everywhere, or in all places, at the same time.
_________________________________________________________________________
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 |